At the end of the second quarter of 2011, polished diamond exports from Hong Kong shot up 44 percent y-o-y to $3.3 billion. Imports of the same rose in value by 37 percent to $4.5 billion and in volume by a mere 1 percent to 7.113 million carats. The average price of polished diamond imports rose 36 percent to $636.62 per carat.

The country’s net polished imports in the said quarter ( valued as polished imports less exports) surged 21 percent to $1.2 billion.

Rough diamond imports in the three months increased more than double to $686.4 million, and exports by 57 percent to $497.3 million. Net rough imports of the country (imports less exports) valued $189.1 million, (deficit of $1.5 million in Q2 of 2010).

The Q2 net diamond account for Hong Kong ( which is the total imports of polished and rough less total exports) rose 2.3 percent to $1.04 billion.