U.S. Polished Diamond Imports -8% in February

U.S. polished diamond imports during February dropped 8 percent year on year to $1.495 billion, while the volume of carats plunged 18 percent to 865,992 carats, Rapaport reported. Polished diamond exports, however, rose 5.3 percent to $1.587 billion, leaving net diamond imports in a deficit of $92 million compared with a polished surplus of $118 million in February 2011.
Rough diamond imports fell 63 percent in February to $30 million while rough exports dropped 24 percent to $22 million. Net rough diamond imports plummeted 85 percent to $8 million. The net diamond account for February, representing total imports of polished and rough diamonds, recorded a deficit of $84 million compared with a surplus of $170 million one year ago.
During the first two months of 2012, the U.S. imported $3.010 billion of polished goods and exported $2.763 billion, leaving net imports of $247 million, which was a 44 percent decline. Rough imports were half of their total from one year ago at $68 million, however,  rough exports improved 14 percent to $72 million, leaving net rough imports at a deficit of $4 million versus a surplus of $72 million one year ago. The net diamond account for the first two months of 2012 was $244 million compared with $516 million in 2011.