RAPAPORT... Polished-diamond imports to Hong Kong declined 6% in the
first half, according to data from the Diamond Federation of Hong Kong,
China. Lower volumes outweighed growth in the average price, the figures
showed.
Hong Kong Trade Data for 1H 2019
| $ Millions unless stated otherwise |
1H 2019 |
Year-on-year change |
| |
|
|
| Polished imports |
$9,123 |
-6% |
| Polished exports |
$6,870 |
3% |
| Net polished imports |
$2,253 |
-25% |
| Rough imports |
$828 |
-21% |
| Rough exports |
$819 |
-46% |
| Net rough imports |
$9 |
2018: Deficit of $471M |
| Net diamond account |
$2,262 |
-11% |
| |
|
|
| Polished imports: volume |
9.3 million carats |
-9% |
| Average price of polished imports |
$984/carat |
3% |
 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: Hong Kong. (Pixabay)
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