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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
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April-June 2021 |
Year-on-year change |
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| 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% |
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| Polished imports (volume) |
4.3 million carats |
89% |
| Average price of polished imports |
$882/carat |
-11% |
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January-June 2021 |
Year-on-year change |
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| 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% |
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| 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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