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Hong Kong’s Polished Imports Stable
Mar 4, 2019 9:10 AM
By Rapaport News
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RAPAPORT... Polished-diamond imports to Hong Kong were flat in 2018,
according to data from the Diamond Federation of Hong Kong, China. The average
price rose 3%, offsetting lower volumes. Polished
imports from China increased 10%, while shipments
from the US dropped 5%, and supply from the United Arab Emirates slumped 31%. Imports from India slipped 1%.
Hong Kong Diamond Trade Data for Full Year 2018
| $ Millions unless stated otherwise |
Full Year 2018 |
Year-on-year change |
| Polished imports |
$19,001 |
0% |
| Polished exports |
$13,673 |
-2% |
| Net polished imports |
$5,328 |
7% |
| Rough imports |
$1,965 |
22% |
| Rough exports |
$2,629 |
-18% |
| Net rough imports |
-$664 |
Deficit decreased 59% |
| Net diamond account |
$4,664 |
39% |
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| Polished imports: volume |
19.1 million carats |
-2% |
| Average price of polished imports |
$996/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: Hong Kong harbor. (Flickr)
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Tags:
China, Diamond Federation of Hong Kong, Hong Kong Polished Imports, Hong Kong Rough Exports, Rapaport News
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