Polished Diamond Imports in Hong Kong Falls 4 Percent
Diamond Federation revealed...Hong Kong’s polished diamond imports fell 4 percent year on year to $16.573 billion in 2012, according to data published by the Diamond Federation of Hong Kong, China Limited. Imports by volume declined 21 percent to 20.592 million carats as the average price of the goods increased 23 percent to $804.82 per carat.
Polished imports from India fell 12 percent year on year to $7.1 billion and from Israel the imports declined 9 percent to $2.1 billion. Polished imports from Belgium rose 8 percent to $2 billion, while they decreased 3 percent from the U.S. to $1.8 billion, but jumped 29 percent from Mainland China to $1.3 billion.
Hong Kong’s polished exports fell 12 percent to $11.528 billion during the year and net polished imports, representing the excess of imports over exports, rose 23 percent to $5.044 billion. Exports to India slumped 37 percent to $3.2 billion, while to Mainland China they fell 5 percent to $2.1 billion.
Hong Kong’s rough imports dropped 15 percent to $1.696 billion in 2012 while rough exports rose 10 percent to $1.878 billion. Net rough imports, representing the excess of imports over exports, fell to a deficit of $182.55 million, from a surplus of $285.47 million the previous year.
Hong Kong’s 2012 net diamond account, representing total imports of polished and rough less total exports, rose 11 percent to $4.862 billion.
During the fourth quarter, Hong Kong’s polished imports rose 3 percent year on year to $3.97 billion, while polished exports fell 14 percent to $2.79 billion, according to Rapaport records. Rough imports grew 18 percent to $498.6 million and rough exports increased 12 percent to $499.5 million. Hong Kong’s fourth quarter net diamond account rose 95 percent to $1.18 billion.
By: Avi Krawitz
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