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Hong Kong Polished Trade Improves

Shipments into the hub increased 0.6% to $4.71 billion during the period ending September 30, according to Rapaport calculations based on figures from the Diamond Federation of Hong Kong, China. By volume, imports declined 3.4% to 5 million carats, while the average price jumped 4.2% to $934 per carat, writes Rapaport.

Hong Kong’s polished exports rose 2.2% to $3.59 billion for the quarter, which means net polished imports dropped 4% to $1.12 billion.

Rough imports rose 28% to $376.7 million, with rough exports up 26% to $552.8 million. Net rough imports stood at negative $176.1 million, compared with negative $75.8 million a year ago, as outbound shipments exceeded inbound trade.

Hong Kong’s net diamond account dropped 8% to $948.7 million.

Polished imports to Hong Kong grew 7% to $14.07 billion in the first nine months of the year, with imports from India rising 16% to $6.77 billion.

Source: Rapaport