U.S. Polished Imports Slide in February

(IDEX Online News) - U.S. net polished diamond imports totaled $117.7 million in February, falling 59.8% compared to February 2010. This as gross imports increased by 29.2% to $1.63 billion, based on figures released by the U.S. Department of Commerce.

In terms of volume, gross imports of 1,058,524 carats are a 13.5% year over year increase. However, exports of 1,207,854 carats left the U.S. with a negative net trade figure of 149,330 carats.

Israel was source of $685.4 million worth of polished averaging $3,681.37 p/c, followed by India with $505 million at $688.26 p/c. Belgium was the third largest supplier, $276.1 million with an average value of $3,490.49 p/c.

Polished diamond exports of 1,207,854 carats worth $1.51 billion averaged $1,247.53 p/c. The high level of exports, rising 56.3% by value, partially reflects a large movement of goods to Hong Kong - $302.7 million. This is about double the typical level of monthly polished diamond exports from the U.S. to Hong Kong.