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Hong Kong’s Polished Diamond Imports Fall

Nov 1, 2016 5:46 AM   By Rapaport News
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RAPAPORT... Hong Kong’s polished diamond imports decreased 2.4 percent to $13.2 billion in the first nine months of the year as shipments from Israel and Belgium slumped. In volume terms, imports increased 2.9 percent to 14.6 million carats, according to data from the Diamond Federation of Hong Kong.

Imports from Israel slid 11 percent to $1.43 billion and shipments from Belgium dropped 9 percent to $1.44 billion. The decline in trade with these key markets outweighed a 3.5 percent increase in imports from India, the largest trade partner for polished diamonds, and a 4.6 percent jump in imports from the U.S.

Polished exports grew 2 percent to $10.16 billion, propelled by a 27 percent jump in orders from Mainland China to $2.06 billion. Shipments to India grew 6 percent to $2.12 billion and exports to the United Arab Emirates increased 7 percent to $1.1 billion, outweighing declines in orders from the U.S., Belgium and Israel.

Net polished imports declined 15 percent to $3.04 billion.

Rough imports fell 16 percent to $1 billion, while rough exports jumped 18 percent to $1.47 billion. Net rough exports leapt to $463.2 million from $54.7 million a year ago.

Hong Kong’s net diamond account, reflecting total imports minus exports, slid 27 percent to $2.57 billion.
Tags: Belgium, China, data imports and exports, exports, Hong Kong, imports, India, Israel, Rapaport News, trade data, u.s.
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