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Hong Kong Polished Imports Climb

Muncipality sees growth in shipments from India and the US.
Nov 18, 2018 10:29 AM   By Rapaport News
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RAPAPORT... Polished-diamond imports to Hong Kong increased 11% in the third quarter, according to data from the Diamond Federation of Hong Kong, China. The average price of imports jumped 15%, offsetting the lower volumes — a trend that reflects a shift toward higher-value goods among traders. Polished imports grew 6% for the year to date, while exports to mainland China climbed 12% to $2.58 billion

Hong Kong Diamond Trade Data for 3Q 2018

$ Millions unless stated otherwise July-Sept 2018 Year-on-year change
Polished imports $5,206 11%
Polished exports $3,805 6%
Net polished imports $1,401 25%
Rough imports $423 12%
Rough exports $573 4%
Net rough imports -$150 Deficit decreased 15%
Net diamond account $1,251 32%
Polished imports: volume 4.9 million carats -4%
Average price of polished imports $1,072/carat 15%

Jan-Sept 2018 Year-on-year change
Polished imports $14,921 6%
Polished exports $10,498 2%
Net polished imports $4,423 18%
Rough imports $1,470 32%
Rough exports $2,091 7%
Net rough imports -$621 Deficit decreased 26%
Net diamond account $3,802 30%
Polished imports: volume 15 million carats 3%
Average price of polished imports $993/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: Visitors at the Hong Kong Jewellery & Gem Fair, September 2018. (UBM)
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Tags: Average Price, China, Diamond Federation of Hong Kong, Hong Kong, mainland china, net diamond account, net polished imports, Net rough imports, polished exports, polished imports, polished-diamond imports, Rapaport News, rough exports, rough imports
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