Hong Kong’s polished diamond exports jump 70% in Q3

In the third quarter closing on September 30, 2010, Hong Kong exported $2.84 billion worth of polished diamonds, a rise of 70 percent y-o-y. Imports of polished diamonds stood at $3.76 billion, rising 37 percent in value y-o-y and 18 percent in volume to 7.854 million carats. The average price was $479.6 per carat showing a 17 percent growth.

The country’s net polished imports, ( excess of imports over exports) dipped 14 percent to $922.75 billion.

In the trade of rough diamonds, the country exported $305.9 million worth of roughs, a rise of 30 percent in value and imports jumped up 16 percent to $264.3 million The net rough imports dropped to negative $41.6 million from negative $7.6 million the previous year, which points to Hong Kong as a net exporter of rough for the period. Net diamond account (total imports of polished and rough less total exports) dropped 17 percent to $881.2 million.