U.S. Sees Drop in Import of Polished Diamonds

diamond The month of February saw imports of polished diamonds to the United States drop significantly. While the dollar value of imported diamonds dropped by 8% compared to the same month the previous year, the actual volume of polished diamonds imported dropped by a full 18% to approximately 866,000 carats, Diamond World reported.

The drop in net rough diamonds imported to the U.S. was even more significant, registering a decrease of 85%, totaling $8 million. These factors contributed to a net diamond account with a deficit of $84 million for the month of February. A year earlier in February 2011, the net diamond account was in surplus to the tune of $170 million.

At the same time, the U.S. noted an increase in the value of its own polished diamond exports in February, rising 5.3% to a total of over $1.58 billion.

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