WASHINGTON: US polished-diamond imports slumped 15% year on year to $1.56 billion in April, according to government data. The volume of imports slid 17% to 660,000 carats, while the average price crept up 2% to $2,366 per carat, the recent figures showed. Polished exports fell 13% to $1.16 billion, meaning net polished imports — the difference between inbound and outbound shipments — declined 22% to $402 million. Rough imports slumped 66% to $25 million, but rough exports grew 43% to $114 million. This meant net rough imports stood at negative $89 million, as the value of rough diamonds the US exported was greater than that of its imported ones. In April a year ago, rough imports trailed exports by $6 million.
The US net diamond account for the month — calculated as total rough and polished imports minus total exports — decreased 38% to $313 million. In the first four months of 2017, US polished imports fell 8% year on year to $6.8 billion, while polished exports dropped 5% to $5.74 billion. Net polished imports slid 22% to $1.06 billion. Rough imports jumped 19% to $231 million, and rough exports grew 69% to $247 million, leaving net rough imports at negative $16 million versus positive $48 million a year earlier. The net diamond account for the January-to-April period went down 26% to $1.05 billion.
