US Polished Market Declines in 2017

RAPAPORT... US polished-diamond trading slowed last year, according to government data. Polished imports dropped 6% to $21.62 billion and, by volume, slid 9% to9.8 million carats. The average price increased 4% to$2,205 per carat. Polished exports fell 4% to $18.02 billion, while netpolished imports - the excess of imports over exports -slipped 14% to $3.61 billion. Rough imports for the year were up 23% to $1.06 billion, while rough exports grew 54% to $938 million. Net rough imports plummeted 51% to $123 million. The US net diamond account - the sum of rough and polishedimports minus total exports - declined 16% to $3.73 billion. Polished-diamond imports for December fell 4% year on yearto $1.48 billion, with polished exports down 2% at $1.33 billion. Net polishedimports for December slumped 19% to $147 million.Image: Diamond Dealers Club ofNew York