Recent data released by the US Commerce Department indicates a noteworthy 18% year-on-year surge in polished-diamond imports for the month of May, reaching a total of $2.59 billion. This increase marks the first year-on-year growth observed in eight months and is also the highest recorded total since May 2019.
The notable rise in imports is likely attributed to the timing of the JCK Las Vegas show, a significant event in the diamond industry calendar. The JCK Las Vegas show, which occurred from June 2 to 5, had an impact on the timing of diamond shipments. The 2022 edition of the show took place slightly later, spanning from June 10 to 13. As a result, a smaller portion of shipments destined for the event was registered in the month of May.
This increase in polished-diamond imports suggests a potential positive shift in the diamond market, driven in part by the dynamics of industry events and the continued recovery from challenges posed by the pandemic.
