U.S. Polished Diamond Imports Rise 29% in August

U.S. net polished diamond imports increased 28.8 percent to $258.3 million in August compared to August 2010. Prices of polished diamonds started to soften in August as traders started to express concerns over global economic issues.

Gross polished diamond imports of 1,068,791 carats worth $1.64 billion in august are a 12.1 percent decline in volume and 23.4 percent increase in value, based on figures release by the Department of Commerce.

Israel was the largest supplier by value, $673.2 million worth of goods, followed by Belgium with $626 million.

Exports of 1,709,492 carats of polished diamonds, rising 22.4 percent year-over-year, far exceeded imports by volume. The value of exports stood at $1.38 billion in August.

Most exports were returns to Israel ($468 million) and India ($284 million).

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