Hong Kong SAR, China: Diamond Market 2024

Diamond Market Size in Hong Kong SAR, China

The Hong Kong diamond market reduced to $X.1B in 2022, with a decrease of X% against the previous year. In general, consumption showed a abrupt decline. As a result, consumption attained the peak level of $X.6B. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Diamond Production in Hong Kong SAR, China

In value terms, diamond production dropped modestly to $X.9B in 2022 estimated in export price. In general, production, however, posted a significant increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Diamond Exports

Exports from Hong Kong SAR, China

In 2022, overseas shipments of diamonds and other precious stones (unworked) increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, diamond exports surged to $X in 2022. In general, exports, however, recorded a perceptible curtailment. The pace of growth was the most pronounced in 2017 with an increase of X%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

India (X kg), the United Arab Emirates (X kg) and Armenia (X kg) were the main destinations of diamond exports from Hong Kong SAR, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Armenia (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, India ($X), China ($X) and the United Arab Emirates ($X) were the largest markets for diamond exported from Hong Kong SAR worldwide, together accounting for X% of total exports. Belgium, Armenia, Israel and South Korea lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Armenia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average diamond export price amounted to $X,078 per kg, rising by X% against the previous year. Over the period under review, the export price posted a significant increase. The growth pace was the most rapid in 2013 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X,670 per kg), while the average price for exports to South Korea ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (X.6%), while the prices for the other major destinations experienced more modest paces of growth.

Diamond Imports

Imports into Hong Kong SAR, China

In 2022, approx. X tons of diamonds and other precious stones (unworked) were imported into Hong Kong SAR; therefore, remained relatively stable against the previous year. In general, imports showed a sharp downturn. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, diamond imports rose rapidly to $X in 2022. Over the period under review, imports continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X kg), Angola (X kg) and Botswana (X kg) were the main suppliers of diamond imports to Hong Kong SAR, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Botswana (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Botswana ($X), the United Arab Emirates ($X) and Belgium ($X) constituted the largest diamond suppliers to Hong Kong SAR, with a combined X% share of total imports.

In terms of the main suppliers, Botswana, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average diamond import price stood at $X,271 per kg in 2022, with an increase of X% against the previous year. Overall, the import price posted a significant increase. The growth pace was the most rapid in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Botswana ($X,540 per kg), while the price for Myanmar ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (X.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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