In April of this year, Hong Kong purchased $47 million worth of Russian diamonds, which is 1.6 times higher than in March. The data was provided by the statistical office of the special administrative region of China.
Thanks to April deliveries, Russia’s share of the Hong Kong diamond market increased from 1% to 12%. This is the maximum indicator since May 2024, when the volume of purchases reached $130 million.
After the cessation of transit through Antwerp, Hong Kong and Dubai became key sales points for the Russian diamond mining industry. Alrosa, the largest diamond producer in the country, is actively using these areas.
India remains the main supplier of diamonds to Hong Kong: in April, its exports amounted to $2.9 billion. The top five also includes Israel, South Africa and Belgium, with South Africa being the only one of them where production stones.
Hong Kong is the main supplier of diamonds to China, but last year exports to China fell to their lowest level in a decade. In this regard, the regional administration considers the United States as a new strategic direction for diamond imports.
Analysts attribute the growth in demand for Russian diamonds to the restructuring of supply chains and the search for alternative sales markets.
Source: @dprom
