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Belgium's Rough Trade Continues to Rise
Sep 7, 2016 4:02 AM
By Rapaport News
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RAPAPORT... Belgium’s rough trade extended its recovery as exports and
imports rose year on year in a seasonally subdued August, while polished data
was mixed.
Rough exports leapt 23 percent to $530.6 million, while
imports jumped 9 percent to $659.2 million, according to data from the Antwerp
World Diamond Centre. This left net rough imports 26 percent higher at $128.6
million.
Outbound polished shipments surged 17 percent to $398.6
million but inbound orders fell 7 percent to $648.2 million. Net polished
exports were negative $249.6 million versus negative $353.3 million a year ago,
meaning a greater value of polished diamonds entered the country than left it.
By weight, polished exports slid 7 percent to 173,009 carats
and imports fell 4 percent to 404,641 carats.
Belgium’s net diamond account for August, representing total
polished and rough exports minus total imports, was negative $378.2 million,
meaning the country brought in more than it shipped out. This compared with
negative $526.7 million a year ago.
The nation’s rough diamond trade slumped in 2015 – with imports down
25 percent and exports sliding 27 percent – but has picked up so far this
year. Rough exports by value rose 7 percent to $8.4 billion in the first eight
months of 2016, while polished underperformed with an 8 percent drop in exports
to $8.1 billion. Polished imports fell 10 percent to $7.95 billion in January
to August.
The improvement in the market is in line with an increase in
rough trading globally this year. De Beers reported rough sales advanced
11 percent in the first half as demand picked up, while ALROSA’s revenue soared
42 percent.
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Tags:
Antwerp, AWDC, Belgium, imports and exports, polished trading, Rapaport News, rough trading
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