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Belgium Diamond Shipments Increase Sharply

Nov 30, 2021 10:04 AM   By Rapaport News
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Belgium’s polished-diamond exports jumped 50% year on year to $941 million in October, the highest since May 2019, as the market improved ahead of the holidays. The increase for the month was the country’s eighth in a row, according to Rapaport calculations based on recent data from the Antwerp World Diamond Centre (AWDC).

Belgium Trade Data for October 2021

  October 2021 Year-on-year change
Polished exports $941M 50%
Polished imports $725M 45%
Net polished exports $217M 66%
Rough imports $968M 11%
Rough exports $808M -16%
Net rough imports $159M 2020: Deficit of $82M
Net diamond account $57M -73%
Polished exports (volume) 359,106 carats 21%
Average price of polished exports $2,621/carat 24%
  January-October 2021 Year-on-year change
Polished exports $6.39B 40%
Polished imports $6.32B 41%
Net polished exports $71M -14%
Rough imports $8.76B 66%
Rough exports $9.04B 81%
Net rough imports -$281M 2020: Surplus of $274M
Net diamond account $352M 2020: Deficit of $192M
Polished exports (volume) 3 million carats 39%
Average price of polished exports $2,117/carat 0%

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: Polished diamonds. (Antwerp World Diamond Centre)
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Tags: Antwerp World Diamond Centre, AWDC, Belgium, data, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data
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