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Hong Kong's 1Q Polished Imports +4%

Polished exports fell 10% during the quarter.
May 16, 2013 1:12 PM   By Avi Krawitz
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RAPAPORT... Hong Kong’s polished diamond imports rose 4 percent year on year to $4.485 billion in the first quarter of 2013, according to data published by the Diamond Federation of Hong Kong China Limited. By volume, the imports increased 5 percent to 5.608 million carats as the average price of the polished goods fell 1 percent to $799.82 per carat.

Polished imports from India rose 20 percent to $2.19 billion during the quarter, while imports from Israel fell 7 percent to $581.7 million. Polished imports from Belgium grew 3 percent to $478.9 million, however, they dropped 16 percent from the U.S. to $400.4 million.

Polished exports from Hong Kong declined 10 percent to $2.962 billion during the quarter. Net polished imports, representing polished imports less exports, grew 49 percent to $1.523 billion.

Hong Kong’s rough imports rose 45 percent to $464.49 million and rough exports increased 61 percent to $695.86 million. Net rough imports, representing the excess of imports over exports, fell to a deficit of $231.37 million, compared with a deficit of $112.55 million a year earlier.

Hong Kong’s net diamond account, representing total imports of rough and polished less total exports, rose 42 percent to $1.292 billion during the quarter.
Tags: Avi Krawitz, Diamond Federation of Hong Kong, diamonds, Hong Kong, Rapaport
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