Diamonds Are The Highest Imports of the USA From India In 2021
20 August 2021
USA import data 2021 shows the top imports for diamonds and related products under the Heading 7102. While import data of USA 2021 shows the high imports for diamonds, USA import data 2020 shows the highest imports in the country for pharmaceuticals. This was due to the still ongoing pandemic because of the Coronavirus.
The United States of America had an impactful experience going through the waves of the pandemic, driven by the virus of COVID-19. It was impacted by the virus the most among major countries such as India, France, and Italy. Imports of pharmaceuticals in the USA were understandably higher than any other country and for any other commodity.
India has been the leading drug producer in the world during the pandemic and exported the vaccines recently, during the second wave of the pandemic in 2021 to many countries. India fulfilled over 50% of the global vaccine demand for many countries when the first wave of the pandemic impacted the world. Among these pandemic-struck countries, the USA was of major importance because of the widespread intensity of the virus in its various regions.
The United States of America accounted for about 40%, in which the anti-malarial drug “hydroxychloroquine” was included. The USA is a major destination for pharmaceuticals because of the strong consumer demand. In the import data of the USA below, the top imports of the USA from India are shown with the corresponding column from product’s name showing the ‘heading’ to which each product belongs, along with their import values. Pharmaceutical was the highest exported commodity to the USA by India in 2020. Check the latest information on USA’s pharmaceutical imports.
For the year of 2020, as aforementioned, the top imported commodity was pharmaceuticals in the USA, while diamonds can be seen at the 2nd position in the data above. However, according to our database for the USA bill of lading data, the flip has happened in the year of 2021 so far. Diamond is the highest imported commodity in 2021 according to our global trade database covering imports and exports of the USA with India from the month of January to June.
Below, import data of USA 2021 shows the total export values for diamonds, imported from India. It covers the time range of the mid-2021, i.e. January-June. As we can see in the US trade data 2021, the highest import value recorded before the worldwide second wave of the pandemic, is in May. In April 2021, USA imported $917.4 billion worth of diamonds from India, which is the highest value among all months and before the second wave of COVID-19. For the month of June, the US imports record in our database shows a slight increase in the imports of diamonds from India, with an import value of $779.8 million. Acquire the latest records and information on the USA diamond imports from live data search.
According to The Rapaport Group, the USA is the net importer of polished diamonds. It states that the United States of America has no within-country operational mines for diamonds. However, it has manufacturing setups to produce diamonds for consumer consumption. Therefore, the USA is also known as the country with high imports for rough diamonds.
India is the top source for diamonds’ imports in the United States of America, followed by Israel. The growing US-India’s bilateral trade relationship is a good sign for the businesses in both the countries. The bilateral relations between countries grew during the pandemic when high imports of pharmaceuticals were sent by India to the USA for lending out the hand during the heat of COVID-19 in 2020.
Not only pharmaceuticals, diamonds as well are the leading business opportunities for businesses in India and USA. Take advantage of the dynamic global trade trends and its information provided by Export Genius through diligently-prepared analytical import-export reports. Get free samples or request a demo to check out our services. Contact us for details.