Hong Kong SAR, China: Diamond Market 2024

Diamond Market Size in Hong Kong SAR, China

The Hong Kong diamond market contracted slightly to $X.1B in 2022, which is down by X% against the previous year. Overall, consumption recorded a abrupt slump. As a result, consumption attained the peak level of $X.6B. From 2015 to 2022, the growth of the market remained at a lower figure.

Diamond Production in Hong Kong SAR, China

In value terms, diamond production shrank modestly to $X.9B in 2022 estimated in export price. In general, production, however, saw a significant expansion. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

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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 year in a row after three years of decline. In general, exports, however, continue to indicate a sharp reduction. 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 reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, diamond exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a pronounced setback. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

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 comprising X% of total exports. Belgium, Armenia, Israel and South Korea lagged somewhat behind, together accounting for a further X%.

Armenia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination 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, increasing by X% against the previous year. Over the period under review, the export price posted a significant increase. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major export 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, the amount of diamonds and other precious stones (unworked) imported into Hong Kong SAR declined modestly to X tons, stabilizing at 2021 figures. In general, imports faced a dramatic curtailment. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, diamond imports rose notably to $X in 2022. Over the period under review, imports showed a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

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 comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Botswana (with a CAGR of X%), while imports 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, together accounting for X% 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

In 2022, the average diamond import price amounted to $X,271 per kg, with an increase of X% against the previous year. In general, the import price recorded significant growth. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: 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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