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Hong Kong Polished Imports Rise in First Half

Sep 5, 2018 5:52 AM   By Rapaport News
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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
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