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.
