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Hong Kong Polished Imports Continue to Slide

Aug 11, 2016 3:04 AM   By Rapaport News
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RAPAPORT...
 Hong Kong’s polished diamond imports fell 9 percent in the first six months of 2016 driven by a decline in deliveries from the major trading centers, according to data compiled by the Diamond Federation of Hong Kong.

Shipments dropped to $8.52 billion, extending a downward trend that has persisted since the start of last year. A slump in imports from Belgium, India and Israel outweighed a slight increase in imports from the U.S. Imports by volume declined 2 percent to 9.4 million carats, while the average price slid 7 percent to $904 per carat.

Polished exports were flat at $6.65 billion, with shipments to Mainland China surging 19 percent to $1.26 billion and Indian orders nudging up 0.6 percent to $1.31 billion. Net polished imports, calculated as imports minus exports, fell 31 percent to $1.87 billion.

Rough imports dropped 22 percent to $716 million and rough exports increased 9 percent to $1.03 billion. Net rough imports, calculated as imports minus exports, were negative $317.5 million versus negative $28.7 million a year ago.

Hong Kong’s net diamond account, reflecting total rough and polished imports minus total exports, slumped 42 percent to $1.55 billion.
Tags: Belgium, China, Diamond Federation of Hong Kong, Hong Kong, imports and exports, India, Israel, net diamond account, Polished Diamonds, polished imports, Rapaport News, rough imports, trade, trade data
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