Sunday, September 18, 2011

US Net Rough Diamond Imports Drop 56.7% in July

Net rough diamond imports by the US declined sharply in July, even though gross imports were on the rise. US net imports of 1,499 carats worth $10.9 million fell 56.7% by value.

Gross imports of 48,299 carats of rough diamonds worth $65.1 million increased year-over-year by 23.2% and 82.1%, respectively.

American diamond traders are more interested in the higher value goods, as evident by the average value of imports. Gross imports averaged $1,347.69 per carat while net imports averaged $7,258 p/c.

Most of the US imports were exported, 46,800 carats worth $54.2 million at an average value of $1,158.38 p/c.

The majority of rough imports were from Botswana, $20.8 million, followed by South Africa with $18.5 million. South Africa was the leading destination of exports, $13.5 million, followed by Belgium ($10.9 million).

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