|
|
Hong Kong Polished Imports Slip in 1Q
May 14, 2019 11:08 AM
By Rapaport News
|
|
|
RAPAPORT... Polished-diamond imports to Hong Kong declined 3% in the
first quarter, according to data from the Diamond Federation of Hong Kong,
China. The average price of imports rose 3%, but was outweighed by lower
volumes.
Hong Kong Diamond Trade Data for 1Q 2019
| $ Millions unless stated otherwise |
Jan-Mar 2019 |
Year-on-year change |
| Polished imports |
$5,020 |
-3% |
| Polished exports |
$3,850 |
9% |
| Net polished imports |
$1,169 |
-29% |
| Rough imports |
$398 |
-26% |
| Rough exports |
$418 |
-54% |
| Net rough imports |
-$20 |
Deficit decreased 95% |
| Net diamond account |
$1,149 |
-10% |
| |
|
|
| Polished imports: volume |
5 million carats |
-6% |
| Average price of polished imports |
$1,012/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: A visitor looking at goods on display at the Hong Kong International Diamond, Gem & Pearl Show in March 2019. (Hong Kong Trade Development Council)
|
|
|
|
|
|
|
|
|
|
Tags:
China, Diamond Federation of Hong Kong, Hong Kong data, Hong Kong Polished Imports, net diamond account, polished-diamond imports, Rapaport News
|
|
|
|
|
|
|
|
|
|
|
|
|