RAPAPORT... Polished-diamond imports to Hong Kong increased in the first half
of 2018, despite a slight drop in the average price of the inbound shipments, according to the Diamond Federation of Hong Kong, China. Polished imports by value grew 4% in the January-to-June period, while exports from
the country remained flat, the trade body said.
| $ Millions unless stated otherwise |
Jan-June 2018 |
Year-on-year change |
| |
|
|
| Polished imports |
9,715 |
4% |
| Polished exports |
6,693 |
0% |
| Net polished imports |
3,022 |
15% |
| Rough imports |
1,047 |
43% |
| Rough exports |
1,518 |
9% |
| Net rough imports |
-471 |
deficit decreased 29% |
| Net diamond account |
2,551 |
30% |
| |
|
|
| |
|
|
| Polished imports by volume (thousands of carats) |
10,163 |
-2% |
| Average price of polished imports ($/carat) |
956 |
6% |
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: Sum Luk
|
|
|
|
|