RAPAPORT… Hong Kong’s polished-diamond imports jumped in the first
quarter, recent data from the municipality’s trade body showed.
first three months, according to data from the Diamond Federation of Hong Kong,
China. By volume, imports grew 6% to 5.3 million carats, while the average
price increased 3% to $982 per carat.
Polished imports from India, its biggest supplier of
diamonds, increased 4% to $2.36 billion, while Belgium, in second place, spiked
27% to $504.4 million, overtaking the US, which rose 2% to $493 million.
Shipments from Israel dropped 7% to $434.3 million.
Hong Kong’s polished exports grew 4% to $3.53 billion
for the quarter, meaning net polished imports — the total
of imports minus exports — leaped 25% to $1.64 billion. Polished exports to mainland
China climbed 11% to $808.1 million.
Rough imports soared 61% to $539.1 million, with rough
exports up 85% to $907.6 million, the data showed. Net rough imports stood at
negative $368.5 million, compared with negative $155.1 million a year ago, as outbound
shipments exceeded inbound trade.
Hong Kong’s net diamond account, reflecting total rough and
polished imports minus total exports, went up 10% to $1.27 billion.
Image: Mk2010
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