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Hong Kong’s Polished Imports Stable

Inbound shipments flat at $19 billion in 2018.
Mar 4, 2019 9:10 AM   By Rapaport News
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RAPAPORT...
 Polished-diamond imports to Hong Kong were flat in 2018, according to data from the Diamond Federation of Hong Kong, China. The average price rose 3%, offsetting lower volumes. Polished imports from China increased 10%, while shipments from the US dropped 5%, and supply from the United Arab Emirates slumped 31%. Imports from India slipped 1%.

Hong Kong Diamond Trade Data for Full Year 2018

$ Millions unless stated otherwise Full Year 2018 Year-on-year change
Polished imports $19,001 0%
Polished exports $13,673 -2%
Net polished imports $5,328 7%
Rough imports $1,965 22%
Rough exports $2,629 -18%
Net rough imports -$664 Deficit decreased 59%
Net diamond account $4,664 39%
     
Polished imports: volume 19.1 million carats -2%
Average price of polished imports $996/carat 3%


Source: Diamond Federation of Hong Kong, China; Rapaport archives


About the data: As an important consumer market and gateway to China, Hong Kong is a net importer of polished diamonds. As such, net polished imports — representing polished imports minus polished exports — will usually be a positive number. Net rough imports — calculated as rough imports minus rough exports — will also generally be in surplus. Hong Kong has no operational diamond mines but has a manufacturing sector, so it should normally ship more rough in than out. The net diamond account is total rough and polished imports minus total exports. It is Hong Kong’s diamond trade balance, and shows the added value the city creates by importing — and ultimately consuming — diamonds.

Image: Hong Kong harbor. (Flickr)
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Tags: China, Diamond Federation of Hong Kong, Hong Kong Polished Imports, Hong Kong Rough Exports, Rapaport News
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