Belgium Polished Diamond Exports Decline

By Rapaport News / July 09, 2017 / / Article Link

RAPAPORT... Belgium's polished-diamond trading slumped in June amidfewer shipments to Hong Kong, according to data the Antwerp World DiamondCentre (AWDC) released last week.Polished exports fell 12% year on year to $1 billion during the month, withimports also down 12% to $1.08 billion. Net polished exports stood at negative$73.3 million versus negative $84.3 million a year ago as Belgium exported alower value of polished diamonds than it imported. By volume, polished exports fell 8% to 460,201 carats. Theaverage price of those exports declined 4% to $2,183 per carat. Polished exports to Hong Kong, Belgium's biggest tradepartner for polished diamonds, dived 22% to $354.4 million. US exports dipped2.3% to $212 million. Meanwhile, rough-diamond imports grew 5% to $996.5 million,and rough exports jumped 24% to $1.19 billion, the AWDC data showed. Net roughimports amounted to negative $192.9 million, compared with negative $14.4 milliona year earlier. Belgium's June net diamond account - total rough andpolished exports minus total imports - was $119.6 million versus negative $70million the year before. During the first half of the year, Belgium's polishedexports fell 9% year on year to $6.06 billion. Polished importsdropped 6%, also reaching $6.06 billion, while net polished exports slid tonegative $1.2 million from positive $220.1 million.First-half rough imports slumped 13% to $5.67 billion, withrough exports down 1.5% to $6.6 billion. Net rough imports came to negative$931 million compared with negative $193.5 million a year back. The net diamond account for the six months more than doubledto $929.8 million from $413.7 million the previous year.