RAPAPORT… The US polished-diamond trade saw significant year-on-year growth in April, according to the latest government data. The 20% increase in imports reflected both a higher volume and an improved average price. Shipments in and out of the US increased in the first four months of 2018.
| US Diamond Trade Data for April 2018 | ||
| $ Millions unless stated otherwise | Apr 2018 | Year-on-year change |
| Polished imports | 1,870 | 20% |
| Polished exports | 1,406 | 21% |
| Net polished imports | 464 | 15% |
| Rough imports | 46 | 82% |
| Rough exports | 61 | -47% |
| Net rough imports | -15 | -84% |
| Net diamond account | 449 | 43% |
| Polished imports: volume (thousand carats) | 747 | 13% |
| Average price of polished imports ($/carat) | 2,503 | 6% |
| Jan-Apr 2018 | Year-on-year change | |
| Polished imports | 7,162 | 5% |
| Polished exports | 6,451 | 12% |
| Net polished imports | 711 | -33% |
| Rough imports | 240 | 4% |
| Rough exports | 204 | -17% |
| Net rough imports | 36 | -322% |
| Net diamond account | 747 | -29% |
Source: US government data; Rapaport calculations and archives
About the data: The US, the world’s largest diamond retail market, is a net importer of polished. As such, net polished imports — representing polished imports minus polished exports — will usually be a positive number. Net rough imports — calculated as rough imports minus rough exports — will also generally be in surplus, though April was an exception. The nation has no operational diamond mines but has a manufacturing sector, so normally ships more rough in than out. The net diamond account is total rough and polished imports minus total exports. It is the US’s diamond trade balance, and shows the added value the nation creates by importing — and ultimately consuming — diamonds.
Image: Chris Ruvolo
