Industry News by Nemesis

Belgium Sees Slide in Polished Trade

May 8, 2018

 

Belgium’s polished-diamond exports dropped in April, according to data from the Antwerp World Diamond Centre (AWDC). 

Polished exports decreased 7% year on year to $728.2 million but, by volume, rose 3% to 389,218 carats. The average price went down 10% to $1,871 per carat. 

The fall was mainly a result of a 60% slide in shipments to the United Arab Emirates to $48.8 million and a 30% drop in exports to Switzerland to $47.8 million. Those declines outweighed a 45% rise to $249.4 million in the US, and a 15% spike in shipments to Hong Kong to $140.9 million. 

Polished imports fell 3% to $861.7 million, while net polished exports — the excess of exports over imports — stood at negative $133.5 million, compared with negative $105.1 million a year ago. 

Rough imports soared 43% to $933.4 million, with rough exports climbing 17% to $1.05 billion. Net rough imports were negative $60 million versus negative $209.1 million last year. 

The country’s net diamond account — the sum of rough and polished exports minus total imports — came to negative $73.5 million in April compared with $104 million the previous year. 

In the first four months of the year, polished exports slipped 1% to $3.91 billion, while rough imports climbed 14% to $4.12 billion.

 

Source: Rapaport

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