Hong Kong's diamond industry saw a 36% increase in value of its polished diamond imports – $2.94 billion – in the first quarter of 2010, Diamond World reported.

The average price per carat of polished diamonds added 49%, to $492.01 per carat.

In terms of volume, diamond imports dipped 9% year-on-year, to 5.978 million carats.

Exports of polished diamonds jumped 24% to $2.17 billion. Net polished imports increased 85% percent to $775.3 million.

Rough diamond imports added 57% in value terms, coming to $253.4 million, and 39% in volume, coming to $3.4 billion.

Average price of rough imports rose by 13% percent to $74.6 million. Exports of roughs added 27% and net rough imports edged up to $41.7 million