Thursday, June 12, 2008

U.S. Polished Diamond Imports and Exports Rise Sharply in April

The U.S. imported $1.5 billion worth of polished diamonds, exporting $1.09 billion worth. With the average value of imports at $1,617 per carat (p/c), and exports at $406.62 p/c, the U.S. is clearly exporting the cheaper goods while keeping the higher value stones, a net of $424 million averaging $1,211 p/c.

Imports rose 24.6 percent over April 2007 with about half coming in from Israel: $780 million worth of goods.

Exports rose a sharp 33.6 percent, with Israel again being the main trading partner – and the destination of $421 million worth of polished diamonds.

Trade with Israel is an interesting case to examine. The average value of imports from the center was a high $3,874 per carat. Exports to it averaged only a tenth of that, $395 p/c, absorbing the low-cost goods. Similar trade trends happen with Belgium and even with India.

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