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Belgium’s August Polished Exports Drop 29%

Sep 6, 2015 6:04 AM  
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RAPAPORT... Belgium’s polished diamond exports fell 29 percent year on year to $341.2 million in August, according to the Antwerp World Diamond Centre. By volume, imports dropped 16 percent to 185,971 carats, while the average price fell 16 percent to $1,835 per carat.

Among Belgium’s main trading partners, polished exports to the U.S. slumped 48 percent and to Hong Kong by 14 percent, while exports to Switzerland plunged 59 percent.

Total polished imports to Belgium declined 17 percent to $694.6 million during the month as net polished exports, representing exports minus imports, slid 1 percent to negative $353.3 million.

Rough imports dropped 45 percent to $605.9 million and rough exports fell 36 percent to $432.4 million, mirroring the slump in global rough trading during the month. Net rough imports, representing imports minus exports, dropped 59 percent to $173.5 million during the month.

Belgium’s August net diamond account, representing total polished and rough imports less total exports, improved 31 percent to narrow the deficit to $526.9 million.

During the first eight months of the year, polished exports fell 6 percent to $8.83 billion, while polished imports dropped 5 percent to $8.84 billion. Rough imports slumped 24 percent to $7.74 billion and rough exports slid 26 percent to $7.85 billion.

Belgium’s net diamond account for the year to date dropped 83 percent to $105.7 million.
Tags: , August 2015, Belgium, export, Import
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