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.