U.S. polished diamond imports rose 6.3 percent year on year to $1.595 billion in February, while the average value of goods jumped 21 percent to $2,065 per carat. Polished diamond exports surged 20.4 percent to $1.755 billion, leaving net polished imports with a deficit of $160 million compared with net imports of $43 million one year ago.

Rough diamond imports increased 155 percent to $74 million in February, while rough exports rose 36.4 percent to $30 million. Net rough imports surged to $44 million from only $7 million one year ago. The net diamond account in February recorded a deficit of $116 million compared with net polished and rough imports of $50 million in February 2013.

During the first two months of the year, polished diamond imports have risen 9.6 percent to $3.482 billion, while polished exports have increased 4 percent to $3.090 billion, leaving net polished imports 89.4 percent higher at $392 million.

Rough diamond imports have skyrocketed 86.8 percent to $127 million and rough exports have surged 85.1 percent to $87 million, leaving net rough imports up 95 percent to $39 million. The net diamond account for January and February combined jumped 89.9 percent to $431 million.