Japan is hungry for polished diamonds

The global demand for polished diamonds seems to be declining everywhere but in the Japan. The Land of the Rising Sun is constantly increasing its import of polished diamonds.

According to a latest IDEX report Japan has imported $91 million worth of polished diamonds in June alone, which represents an increase of 19.6% compared to May’s import.

If we compare Japan's polished diamond imports in first half of this year to the first half of 2011 we can see a staggering 28.3% increase.

Not so long ago, Japan was world's second largest polished diamond consumer (behind United States, now is third largest behind U.S. and China), but in the past few years demand for diamond jewelry declined, especially after major tsunami and the resulting earthquake hit the country.

Japan's appetite for polished diamonds is yet again growing which is very good news for global diamond industry, especially in this somewhat stagnating global diamond market.

India is Japan's leading supplier of polished diamonds with the rest of jewelry coming from Belgium, Hong Kong and Israel.