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Hong Kong's Polished Imports +15% in 3Q

Dec 23, 2013 8:15 AM   By Jeff Miller
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RAPAPORT... Hong Kong's  polished diamond imports rose 15.2 percent year on year to $4.783 billion during the third quarter that ended on September 30, according to the Diamond Federation of Hong Kong. Polished exports jumped 14.9 percent to $3.091 billion. Net polished imports increased 15.7 percent to $1.692 billion.

Rough diamond imports surged 47.5 percent in the third quarter to $469 million, while rough exports increased 55.2 percent to $641 million, leaving net imports in a deficit of $172 million compared with a deficit of $96 million one year ago.

Hong Kong's net diamond account in the quarter, reflecting imports less exports, rose 11.2 percent to $1.52 billion.

Polished diamond imports for the first nine months of 2013 rose 8.3 percent year on year to $13.667 billion and by volume, these imports increased 8.4 percent to 16.9 million carats. Polished exports increased 1.7 percent to $8.894 billion, leaving net polished imports  23.6 percent higher at  $4.773 billion.

Rough imports jumped 18.7 percent to $1.425 billion and rough exports surged 46.7 percent to $2.023 billion, leaving  a rough import deficit of $598 million compared with a deficit of only $181 million one year earlier. Hong Kong's net diamond account  fell 22.4 percent to $2.855 billion for the January through September period.

Tags: diamonds, exports, Hong Kong, imports, Jeff Miller
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