During March 2009, Japan recorded an increase in the import of polished diamond diamonds by volume, but a decrease in the value of imports. The country imported 26 percent more diamonds in carats, amounting to 217,956 carats. The overall value of imports decreased by 21 percent to $59.3 million, owing to a 37 percent decrease in the rate of diamonds per carat, which amounted to $272. In March 2008, the country imported $75.3 million worth of diamonds.

During this period, the imports from all countries apart from Hong Kong decreased. Hong Kong exported 88 percent more diamonds this month, amounting to $10.5 million. India’s exports to Japan fell by 15 percent to $22.5 million, from Belgium by 41 percent to $11.1 million, and from Israel by 34 percent to $6.5 million. The first quarter results of diamond imports followed a similar pattern of decreasing in value and increasing in volume. In value terms imports decreased by 19 percent to $174.3 million, and increased in volume terms by 7 percent to 508,577 carats.