USA: Net Acct Drops on Increased Diamond Exports

13 08 2010

RAPAPORT… Polished diamond imports into the United States rose 10 percent in August 2007 to $1.32 billion, but polished exports surged 42 percent to $1.03 billion. The net polished for August plunged 39 percent to $293 million.

Rough imports fell ever so slightly (by $1 million) to $42 million, and rough exports rose 9 percent to $37 million. August’s net rough imports fell 44 percent to $5 million.

The overall net diamond account for August (net polished imports plus net rough imports) fell 39 percent to $298 million.

The fall in net diamond account figures now shows up for the year 2007 as well. Year-to-date polished imports are up 7 percent to $11.8 billion, but polished exports are up 16 percent to $7.1 billion — leading to a 4 percent drop in net polished of $4.7 billion.

Rough imports year-to-date are up 7 percent to $534 million, but rough exports are up 28 percent to $319 million. The net rough imports for the year fell 13 percent to $215 million.

The net diamond account so far for 2007  is down 5 percent to $4.9 billion.




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