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Hong Kong Sees Polished Trade Advance

Polished imports up 11%, driven by a higher intake from India.
May 8, 2017 4:31 AM   By Rapaport News
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RAPAPORT...
Polished diamond trading rose in Hong Kong during the first quarter as the municipality imported more stones at a higher average price.

Inbound polished shipments jumped 11% to $4.71 billion for the three months that ended March 31, according to data recently published by the Diamond Federation of Hong Kong, China. By weight, polished imports increased 3.4% to 5 million carats, with the average price rising 8% to $949 per carat.

The diamond trade generally brings large volumes of goods to Hong Kong during the first quarter as dealers attend the Hong Kong Diamond, Gem & Pearl Show in March. This year, Hong Kong's imports from India, the world's largest supplier of polished diamonds, leapt 20% during the period to $2.26 billion, according to Rapaport calculations. 

Meanwhile, polished exports for the quarter increased 6% to $3.39 billion, leaving net polished imports 29% higher at $1.31 billion.

Rough imports fell 10% to $336 million, while rough exports grew 6% to $491 million, leaving net rough imports at negative $155 million versus negative $91 million a year ago.

Hong Kong’s net diamond account, calculated as total rough and polished imports minus total exports, increased 25% to $1.16 billion.
Tags: Diamond Federation of Hong Kong China, Hong Kong, Hong Kong Diamond Gem & Pearl Show, imports and exports, net diamond account, Polished diamond trading, Rapaport News, trade data
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