US Polished Diamond Exports Drop

RAPAPORT… US polished-diamond trading slowed in August, according to
government data.



Polished imports slid 7% to $1.55 billion for the month,
figures showed. Polished exports slipped 0.4% to $1.38 billion, meaning net
polished imports — the excess of imports over exports — fell 37% to $176
million.


By volume, polished imports declined 19% to 735,000 carats,
with the average price increasing 15% to $2,113 per carat.


Rough imports more than doubled to $33 million from $13
million a year ago, while rough exports grew to $124 million from $16 million. Net rough imports stood at negative $91 million, compared with
negative $2 million a year ago.


The US net diamond account — total rough and polished
imports minus total exports — fell 70% to $85 million.


In the first eight months of the year, polished imports
dropped 5% to $14.8 billion. Polished exports declined 4% to $12.26 billion,
and net polished imports retreated 11% to $2.54 billion. Rough imports grew 31%
to $555 million, while rough exports soared 94% to $526 million, leaving net
rough imports 81% lower at $29 million. The January-to-August net diamond
account fell 15% to $2.57 billion.