NEW YORK: Polished imports to the United States increased by 2 percent year on year to $2.18 billion in July, according to data published by the U.S. Commerce Department. By volume, the imports fell 12 percent to 918,859 carats, while the average price increased 16 percent to $2,375 per carat.
Polished exports fell 9 percent to $1.41 billion and net polished imports — which is imports minus exports — grew 32 percent to $777 million.
Rough imports dropped 28 percent to $33 million and rough exports slumped 47 percent to $9 million during the month. Net rough imports — calculated as imports minus exports — slid 16 percent to $24 million.
The U.S. July net diamond account, representing total polished and rough imports less total exports, grew 30 percent to $801 million.
During the first seven months of the year, U.S. polished imports increased 1 percent to $14.43 billion, while polished exports slipped 11 percent to $11.57 billion.
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