Polished diamond imports rose by 64% in U.S

Polished diamond trade activity of the U.S. showed an increase in February 2010. Imports of polished diamonds increased 64 percent to $1.26 billion, whereas in volume terms it rose by 49 percent to around 920,584 carats, reports say. The average price of the diamonds rose 10 percent to $1,365.44 per carat, reports add.

The exports of polished diamonds hiked up by 44 percent to $964 million, while net polished imports, representing the excess of imports over exports, more than tripled from last year February to $293 million.

Imports of rough diamonds rose to $29 million or almost four times, in the said month. Rough exports also hiked 167 percent to $16 million. The net rough imports, (value of imports less exports), was up to $13 million, from zero in February 2009, reports say.