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Hong Kong Trading Continues to Recover

Oct 18, 2021 9:10 AM   By Rapaport News
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RAPAPORT... 
Hong Kong’s polished-diamond imports rose 68% year on year to $3.77 billion in the second quarter of 2021 as the market saw a gradual rebound. However, figures were still lower than before the Covid-19 pandemic, according to the most recent data from the Diamond Federation of Hong Kong, China.

Hong Kong Trade Data for 2Q 2021

  April-June 2021 Year-on-year change
     
Polished imports $3.77B 68%
Polished exports $3.14B 96%
Net polished imports $632M -2%
Rough imports $237M 244%
Rough exports $294M 285%
Net rough imports -$58M Deficit increased 656%
Net diamond account $574M -10%
     
Polished imports (volume) 4.3 million carats 89%
Average price of polished imports $882/carat -11%
     
  January-June 2021 Year-on-year change
     
Polished imports $7.19B 58%
Polished exports $6.45B 73%
Net polished imports $746M -12%
Rough imports $446M 100%
Rough exports $535M 94%
Net rough imports -$89M Deficit increased 71%
Net diamond account $657M -17%
     
Polished imports: volume 8.2 million carats 78%
Average price of polished imports $879/carat -11%

Second-quarter figures are Rapaport calculations based on first-quarter and half-year data from the Diamond Federation of Hong Kong, China.


Source: Diamond Federation of Hong Kong, China; Rapaport calculations and 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: The Hong Kong skyline. (Shutterstock)
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Tags: China, Diamond Federation of Hong Kong, Diamond Federation of Hong Kong China, exports, Greater China, Hong Kong, imports, net diamond account, net polished imports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data
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