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Hong Kong Polished Imports Climb
Nov 18, 2018 10:29 AM
By Rapaport News
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RAPAPORT... Polished-diamond imports to Hong Kong increased 11% in the
third quarter, according to data from the Diamond Federation of Hong Kong,
China. The average price of imports jumped 15%, offsetting the lower volumes —
a trend that reflects a shift toward higher-value goods among traders.
Polished imports grew 6% for the year to date, while exports to mainland China
climbed 12% to $2.58 billion
Hong Kong Diamond Trade Data for 3Q 2018
| $ Millions unless stated otherwise |
July-Sept 2018 |
Year-on-year change |
| Polished imports |
$5,206 |
11% |
| Polished exports |
$3,805 |
6% |
| Net polished imports |
$1,401 |
25% |
| Rough imports |
$423 |
12% |
| Rough exports |
$573 |
4% |
| Net rough imports |
-$150 |
Deficit decreased 15% |
| Net diamond account |
$1,251 |
32% |
| Polished imports: volume |
4.9 million carats |
-4% |
| Average price of polished imports |
$1,072/carat |
15% |
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Jan-Sept 2018 |
Year-on-year change |
| Polished imports |
$14,921 |
6% |
| Polished exports |
$10,498 |
2% |
| Net polished imports |
$4,423 |
18% |
| Rough imports |
$1,470 |
32% |
| Rough exports |
$2,091 |
7% |
| Net rough imports |
-$621 |
Deficit decreased 26% |
| Net diamond account |
$3,802 |
30% |
| Polished imports: volume |
15 million carats |
3% |
| Average price of polished imports |
$993/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: Visitors at the Hong Kong Jewellery & Gem Fair, September 2018. (UBM)
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Tags:
Average Price, China, Diamond Federation of Hong Kong, Hong Kong, mainland china, net diamond account, net polished imports, Net rough imports, polished exports, polished imports, polished-diamond imports, Rapaport News, rough exports, rough imports
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