Recent data from the municipality’s trade body showed Hong Kong’s polished-diamond imports jumped in the first quarter.
Hong Kong’s polished exports grew 4% to $3.53 billion for the quarter, meaning net polished imports — the total of imports minus exports — leaped 25% to $1.64 billion. Polished exports to mainland China climbed 11% to $808.1 million.
Rough imports soared 61% to $539.1 million, with rough exports up 85% to $907.6 million, the data showed. Net rough imports stood at negative $368.5 million, compared with negative $155.1 million a year ago, as outbound shipments exceeded inbound trade.
Hong Kong’s net diamond account, reflecting total rough and polished imports minus total exports, went up 10% to $1.27 billion.” said Rapaport.