China posted a 14% drop in polished diamond imports to $6.69 billion last year from 2014.
The figures were widely expected due to the economic superpower's slowing economic growth last year and widespread evidence of falling demand for diamond jewelry and other big-ticket goods.
Although China’s imports of polished diamonds decreased in the first three-quarters of 2015 from 2014, there was actually a slight increase in the final three months of the year, according to data released by the China Customs Information Center, Rapaport reported.
There was a sharp decline in volume terms, with imports of polished goods plunging 17% to 7.6 million carats.
Consequently, there was a 3.7% rise in the average price per carat to $883.
Polished diamond exports also plummeted – dropping 21% to $2.14 billion, creating a 10% fall in net polished imports to $4.55 billion.
Meanwhile, rough imports slumped 45% to $764 million and rough exports similarly plunged 50% to $27 million.
