Hong Kong’s polished diamond exports up 18%

At the close of the third quarter of 20110, ending September 30, 2011, Hong Kong’s polished diamond exports increased 18 percent to $3.34 billion. Polished diamond imports also rose, by a good 29 percent to $4.84 billion, but dropped in volume by fell 17 percent to 6.464 million carats. The average price of polished diamond imports rose 56 percent to $746.88 per carat. The country’s net polished imports (valued as polished imports less exports) jumped 62 percent to $1.49 billion.

The country’s rough diamond trade saw a good performance. Rough diamond imports more than doubled to $598.7 million, and the rough diamond exports rose by 53 percent to $468.4 million. This led to the net rough imports (valued as imports less exports) rising to $130.3 million ( deficit of $41.6 million in Q3 of 2010).

The quarter led the country’s net diamond account (representing total imports of polished and rough less total exports) to churn a good 41 percent rise to $1.36 billion.