U.S. Polished Diamond Imports -15% in July

U.S. polished diamond imports dropped 15 percent year on year to $1.747 billion in July, while polished imports fell 13 percent to $1.229 billion. Net polished diamond imports plunged 20 percent to $517 million. The average price per carat for imported diamonds rose just 0.6 percent year on year to $1,747 during the month, Rapaport reports.
Rough diamond imports fell 28 percent to $47 million, while rough exports plummeted 61 percent to $21 million, leaving net rough imports of $26 million compared with only $11 million one year ago.  The net diamond account in July, reflecting the difference between total imports and exports, fell 17 percent year on year to $543 million.
During the first seven months of 2012, the U.S. imported $12.22 billion worth of polished diamonds, a drop of 8 percent from one year ago, while polished exports declined 5 percent to $10.216 billion. Rough imports dropped 23 percent to $302 million and rough exports fell by 27 percent to $201 million. The net diamond account for the January through July period plunged 21 percent to $2.106 billion.