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Belgium’s Polished Exports Decline
Mar 6, 2017 11:14 AM
By Rapaport News
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RAPAPORT... Belgium’s diamond-trade statistics for February made for somber reading,
as data from the Antwerp World Diamond Centre (AWDC) showed a slowdown in both
polished and rough shipments.
Polished exports slid 15 percent year on year to $1.35 billion,
with shipments dropping 14 percent by volume to 530,947 carats, according to
the data released Monday. The average price of exports fell 2 percent to $2,551
per carat.
Polished exports to Hong Kong fell 11 percent to $607.4
million, with dealers shipping a large quantity of goods to the municipality
for the March show that ended on Monday. Exports to the U.S. dropped 11 percent
to $253.8 million, while shipments to Israel slid 20 percent to $161.9 million.
Belgium’s total polished imports declined 16 percent to $739.5
million, leaving net polished exports – calculated as exports minus imports – 14
percent lower at $614.8 million.
Rough imports fell 32 percent to $908.2 million, mirroring
trends in the broader rough market after De Beers reported a smaller February sight
than a year ago. Rough exports declined 15 percent to $1.09 billion, meaning
net rough imports amounted to negative $179.9 million versus a positive $53
million a year earlier.
However, Belgium’s February net diamond account,
representing total polished and rough exports minus total imports, increased 20
percent to $794.8 million.
In the first two months of the year, polished exports slid
16 percent to $1.99 billion, while polished imports fell 13 percent to $1.62
billion. Rough imports dropped 10 percent to $1.86 billion, with rough exports
increasing 2.4 percent to $2.12 billion.
Image: Wouter Hagens
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Tags:
Antwerp, Antwerp World Diamond Centre, AWDC, Belgium, Hong Kong, Rapaport News, u.s.
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