Antwerp Sees Improved Polished Trade

By Rapaport News / June 12, 2017 / / Article Link

RAPAPORT... Belgium's polished diamond exports increased in May, aided by higher shipments to Hong Kong and Israel, according to data fromthe Antwerp World Diamond Centre (AWDC).Polished exports rose 1.4% year on year to $1.12 billion, the AWDCsaid last week. Shipments to Hong Kong grew 13% to $156.7 million, while ordersfrom Israel jumped 55% to $174.9 million. Exports to Switzerland showedparticular improvement, more than doubling to $85.6 million. These increasesoutweighed a 19% slide in exports to the US, which came to $413.1 million. By volume, total polished exports fell 12% to 422,711carats, with the average price climbing 15% to $2,658 per carat. Polishedimports, meanwhile, increased 9% in value to $1 billion, leaving net polishedexports 35% lower at $120.4 million. Rough imports fell 18% to $1.06 billion, while exportsdropped 3% to $1.24 billion during the month. Net rough imports stood at negative $188million, versus positive $14.8 million a year ago. Belgium's net diamond account - representing total exportsminus total imports - grew 80% to $308.4 million. In the first five months of 2017, polished exports fell 9%year on year to $5.06 billion, and polished imports declined 4.7% to $4.98billion. Rough exports fell 6% to $5.41 billion, while rough imports slumped16% to $4.67 billion.