Advanced Search

Hong Kong Sees Polished Trade Advance

May 8, 2017 4:31 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

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
Similar Articles
Rapaport Weekly Market Comment
Mar 22, 2018
Market quiet after positive first quarter. Indian manufacturers facing liquidity squeeze as banks tighten credit
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.