Hong Kong’s polished-diamond imports rose 9% to $18.93 bn in 2017, according to data from the Diamond Federation of Hong Kong, China.
Imports, by volume, grew 3% to 19.5 mn carats for the year, while the average price climbed 6% to $971 per carat. Polished imports from India increased 14% to $8.83 bn, while those from the US also increased 14% to $2.08 bn. Shipments from Israel reportedly dropped 7% to $1.69 bn, and imports from Belgium fell 15% to $1.56 bn.
Hong Kong’s polished exports increased by 5% to $13.97 bn in 2017. That is, net polished imports increased 22% to $4.96 bn. Polished exports to mainland China rose 12% to $3.15 bn.
Rough imports grew 19% to $1.6 bn, with rough exports up 70% to $3.21 bn. Net rough imports stood at negative $1.61 bn compared with negative $538.9 mn a year ago, as exports shipments exceeded imports.
Hong Kong's net diamond account, which is the total rough and polished imports minus total exports, came down 5% to $3.35 bn.