Hong Kong's Polished Diamond Imports Up 15%

Hong Kong is an important gateway to the Chinese market for the Israeli diamond industry

Hong Kong's polished diamond imports rose 15.2 percent year on year to $4.78 billion during the third quarter that ended on September 30, according to the Diamond Federation of Hong Kong.

Polished exports jumped 15 percent to $3.09 billion, while net polished imports rose by almost 16 percent to $1.69 billion, according to Diamonds.Net.

Rough diamond imports soared 47.5 percent in the third quarter to $469 million, while rough exports surged 55.2 percent to $641 million, creating a net imports deficit of $172 million compared with a deficit of $96 million one year ago.

Hong Kong's net diamond account in the quarter, reflecting imports less exports, rose 11.2 percent to $1.52 billion.

Polished diamond imports for the first nine months of 2013 rose 8.3 percent year on year to $13.667 billion and imports by volume increased 8.4 percent to 16.9 million carats. Polished exports increased 1.7 percent to $8.894 billion, leaving net polished imports 23.6 percent higher at $4.773 billion.

Rough imports jumped 18.7 percent to $1.425 billion and rough exports surged 46.7 percent to $2.023 billion, leaving a rough import deficit of $598 million compared with a deficit of only $181 million one year earlier. Hong Kong's net diamond account fell 22.4 percent to $2.855 billion for the January through September period.