American diamond traders were after pricier items in September, but purchased less of them, according to the latest government figures.Net polished diamond imports by the US in September totaled $116 million, a sharp drop of 50.7% when compared to August 2011 and 55.1% compared to September 2010. Gross polished diamond imports of $1.8 billion in September are a 22.3% year-over-year increase and a 9.6% growth from August 2011.
The volume of gross imports declined however by 6.3% to 1.1 million carats. Compared to August, imports increased by 2.3%. Year-over-year, the average value of gross imports shot upwards by 30.5% to $1,645.29 p/c. Compared to August, the average value increased by 7.2%.
Gross exports of 1.5 million carats worth $1.68 billion are a one percent decline in volume but a 36.2% jump in the value, compared to September 2010. Month-over-month, exports decline 10.1% by volume and increased 21.7% in value.
The average value of gross exports leaped 174.1% year-over-year and a surprising 35.3% compared to August.
-Rapaport
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