Hong Kong’s polished diamond imports rose 27 percent year on year to $17.18 billion, according to data published by the Diamond Federation of Hong Kong, China Limited. However, the quantity of goods imports fell 9 percent to 26.213 million carats. Growth was driven by price inflation as the average price of the polished imports increased 40 percent to $655.43 per carat.
Polished imports from India rose 19 percent to $7.83 billion, while from Israel they grew 65 percent to $2.28 billion, and from Belgium the imports rose 25 percent to $1.83 billion. Polished exports grew 31 percent to $13.1 billion during the period and Hong Kong’s net polished imports, representing imports less exports, rose 17 percent to $4.08 billion.
Rough imports jumped 75 percent to $1.99 billion and rough exports increased 51 percent to $1.71 billion. Net rough imports, which is the excess of imports over exports, rose to $283.8 million, from $7.9 million in 2010.
Hong Kong’s 2011 net diamond account, representing total imports of polished and rough less total exports, rose 9 percent to $3.8 billion.
The Hong Kong International Jewellery Show will start on February 16 and continue through to February 20 at the Hong Kong Convention and Exhibition Centre.