Belgium’s Polished Trade Slides

RAPAPORT…
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.