Hong Kong Polished Imports Rise

RAPAPORT... Hong Kong'spolished-diamond imports jumped in 2017, recent data from the municipality'strade body showed. Shipments into thecenter rose 9% to $18.93 billion in 2017, according to data from the DiamondFederation of Hong Kong, China. By volume, imports grew 3% to 19.5 million caratsfor the year, while the average price climbed 6% to $971 per carat. Polished imports from India increased 14% to $8.83 billion,while those from the US also spiked 14% to $2.08 billion. Shipments from Israeldropped 7% to $1.69 billion, and those from Belgium fell 15% to $1.56 billion. Hong Kong's polished exports went up 5% to $13.97 billion in2017, meaning net polished imports - the total of imports minus exports - jumped22% to $4.96 billion. Polished exports to mainland China rose 12% to $3.15billion. Rough imports grew 19% to $1.6 billion, with rough exportsup 70% to $3.21 billion, the data showed. Net rough imports stood at negative$1.61 billion compared with negative $538.9 million a year ago, as outboundshipments exceeded inbound trade. Hong Kong's net diamond account, reflecting total rough andpolished imports minus total exports, slid 5% to $3.35 billion. Image: Sum Luk