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Hong Kong Polished Imports Slide
Nov 5, 2019 7:42 AM
By Rapaport News
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RAPAPORT... Polished-diamond imports to Hong Kong declined 24% in the third quarter, according to Rapaport calculations based on data from the Diamond Federation of Hong Kong, China. Polished imports fell 12% in the first nine months of the year, the official figures showed.
| Hong Kong Trade Data for 3Q 2019 |
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Jul-Sep 2019 |
Year-on-year change |
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| Polished imports |
$3,975 |
-24% |
| Polished exports |
$2,876 |
-24% |
| Net polished imports |
$1,099 |
-22% |
| Rough imports |
$247 |
-42% |
| Rough exports |
$295 |
-48% |
| Net rough imports |
-$48 |
Deficit decreased 68% |
| Net diamond account |
$1,051 |
-16% |
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| Polished imports: volume |
4.4 million carats |
-9% |
| Average price of polished imports |
$895/carat |
-16% |
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Jan-Sep 2019 |
Year-on-year change |
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| Polished imports |
$13,098 |
-12% |
| Polished exports |
$9,746 |
-7% |
| Net polished imports |
$3,352 |
-24% |
| Rough imports |
$1,075 |
-27% |
| Rough exports |
$1,114 |
-47% |
| Net rough imports |
-$39.1 |
Deficit decreased 94% |
| Net diamond account |
$3,313 |
-13% |
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| Polished imports: volume |
13.7 million carats |
-9% |
| Average price of polished imports |
$955/carat |
-4% |
All numbers in millions unless stated otherwise. Third-quarter figures are Rapaport calculations based on data from the Diamond Federation of Hong Kong, China.
Source: Diamond Federation of Hong Kong, China; Rapaport calculations
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: Victoria Harbour, Hong Kong. (Pixabay)
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Tags:
Hong Kong data, net diamond account, net polished imports, Rapaport News
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