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Hong Kong's polished diamond trade up in Q1 2017

2017-5-12

Hong Kong’s polished diamond trading rose in the first quarter as imports of polished shipments rose 11% to $4.71 bn during the three months ended March 31 as per data recently published by the Diamond Federation of Hong Kong, China. Volume-wise polished imports increased 3.4% to 5 mn cts, with the average price rising 8% to $949 per ct as reported in diamonds.net 

The diamond trade brings large volumes of goods to Hong Kong during the first quarter as dealers attend the Hong Kong Diamond, Gem & Pearl Show in March. Hong Kong's imports from India leapt 20% to $2.26 billion. Meanwhile, polished exports increased 6% to $3.39 bn during the period, leaving net polished imports 29% higher at $1.31 bn. 

Rough imports fell 10% to $336 mn, while rough exports grew 6% to $491 mn, leaving net rough imports at negative $155 mn versus negative $91 mn a year ago.Hong Kong’s net diamond account, calculated as total rough and polished imports minus total exports, increased 25% to $1.16 bn. 

Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished

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