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Imports of Diamond and Part of Different Countries in It

2001: Imports of Diamond and Role of Diamond Dealers

June 2001

Data Based on the U.S. Department of Commerce, U.S. Treasury and U.S. International Trade Commission

Polished Diamonds, Under Half a Carat (In U.S. Dollars)  

Country

1996

1997

1998

1999

2000

% Change

India

1,245,651,012

1,322,567,002

1,560,690,997

1,900,715,528

2,045,554,442

7.6%

Israel

387,040,004

567,595,199

521,444,562

608,268,726

692,823,741

13.9%

Belgium

231,938,615

212,920,569

261,135,934

207,627,975

221,147,643

6.5%

Hong Kong

67,906,060

77,088,858

61,178,269

46,808,545

78,995,423

68.8%

U.A.E.

72,004

1,106,270

1,250,595

24,600,537

19,119,329

-22.3%

Thailand

8,468,441

10,997,651

9,686,191

14,422,992

17,858,884

23.8%

Switzerland

2,067,022

5,877,418

1,932,360

10,224,150

8,502,086

-16.8%

China

1,486,742

489,185

1,127,694

1,606,317

7,567,969

371.1%

U.K.

800,392

890,062

455,570

796,423

3,285,988

312.6%

Mexico

12,625

302,430

10,850,581

6,816,601

3,210,971

-52.9%

Brazil

3,133,602

2,180,051

1,737,915

1,725,309

3,180,953

84.4%

Japan

1,867,430

4,395,583

1,755,941

2,647,147

2,222,462

-16.0%

Saudi Arabia

0

0

0

0

2,200,000

N/A

Ukraine

3,858

0

0

390,283

2,058,828

427.5%

Singapore

541,207

963,179

1,078,105

1,188,668

1,865,101

56.9%

All Other

29,237,826

18,658,582

18,558,950

12,211,678

10,528,553

-13.8%

Total

1,980,226,840

2,226,032,039

2,452,883,664

2,840,050,879

3,120,122,373

9.9%

Analysis

For the first time in 2000, imports of small diamonds have reached more than $3 billion. While India, with $2 billion, led by far the imports into the U.S., Israel and Belgium are holding their own. There are also a number of newcomers worth watching, namely China with a 371% increase, along with Thailand, Hong Kong and Singapore. While imports and consumption are not necessarily the same, import increases fell in line with estimates of total jewelry sales for the United States.

Polished Diamonds, Over .5 Carats (In U.S. Dollars) 

Country

1996

1997

1998

1999

2000

% Change

Israel

2,017,914,438

2,394,242,595

2,986,408,125

3,649,033,401

4,633,905,648

27.0%

Belgium

1,187,527,241

1,474,781,113

1,485,966,210

1,633,846,124

2,170,476,120

32.8%

India

151,132,186

259,822,978

305,722,801

382,620,958

460,507,739

20.4%

Switzerland

162,591,497

235,042,522

238,988,258

254,243,573

263,311,091

3.6%

South Africa

52,020,968

105,859,734

91,863,586

66,483,560

139,465,564

109.8%

Hong Kong

60,127,121

83,041,175

105,332,448

116,595,630

138,987,682

19.2%

U.K

52,620,098

31,896,449

76,904,489

74,824,241

99,858,854

33.5%

Russia

52,460,226

41,379,837

56,503,331

44,152,281

61,183,032

38.6%

Thailand

29,276,982

11,043,441

13,501,520

18,150,830

27,303,798

50.4%

France

10,292,807

8,307,751

15,748,053

6,162,531

15,930,278

158.5%

Singapore

8,927,947

4,037,172

14,907,802

7,141,647

13,971,223

95.6%

Brazil

10,864,588

3,882,203

4,565,612

6,560,795

13,438,708

104.8%

Japan

2,438,810

17,188,924

8,117,746

6,466,283

13,331,171

106.2%

Br. V.I.

0

0

0

135,000

11,540,900

8448.8%

China

468,481

209,329

796,581

6,145,217

11,527,883

87.6%

All Other

49,550,926

48,570,804

37,498,262

48,503,347

62,407,041

28.7%

Total

3,848,214,316

4,719,306,027

5,442,824,804

6,321,065,418

8,137,146,768

28.7%

Analysis

U.S. imports of larger diamonds over .5 carats jumped almost 29% to 8.1 billion in 2000, with Israel supplying $4.6 billion—more than half the total imports into the United States. Belgium, meanwhile, registered a significant increase of almost 33%, to $2.2 billion last year.

As seen on the chart, India, South Africa. and China, which are the already important suppliers of smaller stones, are upcoming cutting centers for larger than .5 carat stones.

The impressive 28.9% increase in imports of diamonds over .5 carats in 2000, however, does not match the actual increase in U.S. consumption of larger diamonds within the country last year. Instead, many overseas diamond manufacturing companies now regularly send almost their entire production to the United States, which is the largest consumer diamond market, especially as other important consumer markets—like Japan and Southeast Asia—continue to show sluggish in consumer spending

Keep in mind that some of these goods imported into the United States end up being returned or exported later to other countries from New York.

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