U.S. Polished Diamond Imports +1% in March

U.S. polished diamond imports rose 1.1 percent year on year to $1.974 billion in March, Rapaport reported. On average, imported polished goods were valued at $2,007 per carat, representing an increase of almost 12 percent from one year ago. Polished diamond exports, meanwhile, surged 26.1 percent to $1.883 billion, leaving net polished imports of $91 million compared with $459 million in March 2013.
Rough diamond imports in March skyrocketed 115.8 percent year on year to $82 million, while rough exports jumped 150 percent to $55 million. Net rough diamond imports by value rose to $26 million compared with $16 million one year ago. The net diamond account in March, representing total net imports less net exports, plunged 75.4 percent to $117 million.
U.S. polished diamond imports rose 6.4 percent year on year to $5.456 billion in the first quarter, while polished exports increased 11.4 percent to $4.973 billion, leaving net imports 27.5 percent lower at $483 million.  Rough diamond imports surged 97.2 percent to $209 million and rough exports jumped 109 percent to $142 million, resulting in net imports of $65 million compared with $36 million in the first quarter of 2013.
The net diamond account in the U.S. for the first three months of 2014 fell 21.9 percent to $548 million.