May 31st, 2005
Polished imports into Japan in April rose by 0.6% to $85.7 million, compared to 2004, according to figures compiled by the Jewelry Trade Center (JTC) Incorporated.
In yen terms, imports declined by 0.7% to 9.0 billion yen in April. In terms of volume, imports fell 13.9% to 171,000 carats.
Based on the overall PolishedPrices index, which is currently 12.2% higher than a year ago, the figures suggest that Japanese consumers have not increased their spending on diamonds, but are spending the same amount of money and trading down.
By Richard Platt.