News

Advanced Search

Belgium Trade Hits 18-Month High

Apr 19, 2021 10:51 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... 
Belgium’s polished-diamond exports jumped 40% year on year to $716 million in March, reaching the highest level since September 2019. Rough trading also grew sharply, according to data the Antwerp World Diamond Centre (AWDC) released last week.

“Continuing on the trend of the final months of 2020, the first quarter of 2021 demonstrates Antwerp’s resilience and its agility to remain fully operational while the world continues to battle the pandemic,” an AWDC spokesperson said. The city has hosted more than 30 rough tenders in the past three months, the organization pointed out.

Belgium Trade Data for March 2021

  March 2021 Year-on-year change
     
Polished exports $716M 40%
Polished imports $727M 81%
Net polished exports -$11M 2020: Surplus of $112M
Rough imports $891M 46%
Rough exports $954M 113%
Net rough imports -$64M 2020: Surplus of $164M
Net diamond account $53M 2020: Deficit of $52M
     
Polished exports by volume 296,837 carats 7%
Average price of polished exports $2,413/carat 30%
     
  January-March 2021 Year-on-year change
     
Polished exports $1.79B 7%
Polished imports $1.81B -2%
Net polished exports -$19M Deficit decreased 88%
Rough imports $2.4B 13%
Rough exports $2.58B 39%
Net rough imports -$189M 2020: Surplus of $269M
Net diamond account $170M 2020: Deficit of $427M
     
Polished exports by volume 855,565 carats -1%
Average price of polished exports $2,092/carat 8%



Sources: Antwerp World Diamond Centre (AWDC); Rapaport archives.

About the data: Belgium is usually a net exporter of polished diamonds. As such, net polished exports — representing polished exports minus polished imports — will normally be a positive number. The nation has historically been a net importer of rough, though in recent years, it has often been a net rough exporter. While Antwerp is still home to some high-value manufacturing, its main role in the market is as a facilitator of rough-diamond trading, with companies from around the world coming to the city to buy rough. The net diamond account is total rough and polished exports minus total imports. It is Belgium’s diamond trade balance, and shows the added value the nation creates by exporting rough or manufacturing it into polished.

Image: The diamond district in Antwerp. (AWDC)
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Tags: Antwerp, Antwerp World Diamond Centre, AWDC, Belgium, exports, imports, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports
Similar Articles
Rapaport LogoRapaport Weekly Market Comment
Jun 17, 2021
Positive sentiment as demand outpaces supply. US retail upbeat; May jewelry sales +203% year on year and
From Crisis to CrisisHow Two Crises Shaped the Diamond Trade
Jun 15, 2021
For just over a decade, the diamond midstream — consisting of manufacturers and dealers — has served as a repository
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2021 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.