The US diamond trade showed signs of breathing some fresh air, as polished diamond imports increased 18 percent to $12.34 billion in the January to July period of 2008. Exports of polished diamonds saw a 49.1 percent jump, valuing to $9.07 billion. The country’s net diamond imports in the year-to-date fell by 25.2% to $3.27 billion.

India has in the past seven months of 2008, increased its trade with the US, increasing exports of polished goods by 23 percent to $2.38 billion ($503/ct), and imports by 124 percent to $1 billion (456/ct). The year-to-date net polished diamond imports from India to US declined by 8 percent to $1.38 billion.

Another major contributor to the US imports was Israel as it increased its exports of polished goods by 12 percent to $6.28 billion with an average value of $3,556/ct. Belgium exported at the rate of $2,657/ct, increasing its shipments by 18 percent to $2.14 billion.