Hong Kong's 2Q Polished Diamond Imports +6%

Hong Kong’s polished diamond imports rose 6 percent year on year to $4.398 billion in the second quarter of 2013. Data published by the Diamond Federation of Hong Kong, China indicated that polished exports grew 3 percent to $2.841 billion during the period. Net polished imports, the excess of imports over exports, increased 13 percent to $1.557 billion.

Hong Kong’s rough imports fell 12 percent to $491.48 million, while rough exports grew 29 percent to $692.61 million. Net rough imports, representing imports less exports, declined to a deficit of $201.13 million from a surplus of $26.18 million one year earlier.

Hong Kong’s second quarter net diamond account, representing total rough and polished imports less total exports, fell 4 percent to $1.355 billion.

During the first six months of the year, polished imports to Hong Kong increased 5 percent to $8.884 billion, the federation reported. Imports from India grew 17 percent to $4.21 billion but they fell from most other major supply countries. Imports from Israel declined 2 percent to $1.14 billion and by 4 percent from Belgium  to $948.7 million. Polished imports from China declined 6 percent to $522.4 million.

Polished exports from Hong Kong decreased 4 percent to $5.803 billion during the first half. Exports to India fell 10 percent to $1.53 billion, while declining by 9 percent to $911.6 million to China. Exports to Belgium grew 1 percent to $826.9 million and jumped 6 percent to Israel  to $696.5 million.

Hong Kong’s rough imports rose 8 percent to $955.96 million during the half year and rough exports increased 43 percent to $1.388 billion. Net rough imports decreased five-fold to a deficit of $432.5 million from a deficit of $86.4 million the previous year.

Hong Kong’s net diamond account for the first six months of 2013 rose 15 percent to $2.648 billion. 

Source: diamonds.net