Hong Kong's record diamond imports

Hong Kong is definitely one of the most important cities for global diamond industry, especially for diamond polishing industry. According to the latest report by the Diamond Federation of Hong Kong, Hong Kong’s polished diamond imports increased 37 percent year on year to $4.5 billion in the second quarter of 2011, even despite the gloomy economic picture worldwide.

Rough diamonds import also achieved significant increase. Hong Kong’s rough diamonds imports have more than doubled to $686.4 million compared to the last year while rough diamond exports increased 57 percent to $497.3 million.

The countries that are Hong Kong's most important diamond exporters are India and Israel. The import of polished diamond from India increased by 36% and from Israel by 32%. Not only that diamond imports from the United States grew by 21 percent and from Belgium by 44 percent.

This all contributed to Hong Kong’s net diamond account which for the first half of the year increased 1.5 percent to $1.78 billion.