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Macao's Diamond Exports, Watch Imports Surge in 1Q

May 6, 2013 11:34 AM   By Jeff Miller
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RAPAPORT... Macao exported $6 million (MOP 48.1 million) worth of diamonds and diamond jewelry in March, an increase of 113 percent year on year, while exports of clocks and watches surged 54 percent to $4.1 million (MOP 33 million). The first-quarter's data was equally impressive with diamond and diamond jewelry exports up 90 percent to $32 million (MOP 255 million) and clocks and watches up 122 percent to $25.3 million (MOP 202 million). While Mainland China and ''other'' countries were strong export destinations for Macao's  commodities, including diamonds, textiles, machines and electronic components, Hong Kong accounted for 59 percent of the total during the first quarter.

Meanwhile, Macao's gold jewelry imports plunged 30 percent year on year in March to $70 million (MOP 558 million); however, during the first quarter, gold jewelry imports were up 22 percent to $244 million (MOP 1.95 billion). Watch imports to Macao jumped 46 percent to $57 million (MOP 457 million) in March and for the first quarter they improved 29 percent to $171 million (MOP 1.36 billion). Other top imports included food and beverages, fuel, mobile phones, handbags, automobiles and motorcycles and construction materials.

Tags: clocks, diamonds, exports, imports, Jeff Miller, Jewelry, macao, watches
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