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Global Rough Trading Jumps in 2016
Jul 5, 2017 10:10 AM
By Rapaport News
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RAPAPORT... Global rough-diamond trading grew last year amid an
increase in average prices, according to data the Kimberley Process (KP)
released Tuesday.
Worldwide rough imports jumped 15% by value to $48.56
billion in 2016, while import volume increased 11% to 380.8 million carats, the
figures showed. Exports increased 13% to $47.93 billion, while the volume of
these shipments expanded 9% to 382.1 million carats.
The average price for both imports and exports increased by
4% — the former to $128 per carat, and the latter to $125 per carat.
The three largest rough importers — India, the European
Union (EU) and the United Arab Emirates (UAE) — saw double-digit growth in value,
reflecting a resurgence in the rough market compared with a relatively slow
2015. India imported $16.67 billion of rough, a 25% jump from the previous year,
the data showed. Imports to the EU — which includes Belgium, one of the largest rough-trading hubs — increased 12% to $13.2
billion. The UAE’s imports rose 19% to $6.48 billion, while Israel’s incoming
shipments grew 9% to $3.7 billion.
The EU remained the world’s largest exporter of rough,
with most of it coming out of Antwerp. Exports from the bloc increased 13% to
$13.01 billion. The UAE’s exports grew 14% to $8.6 billion. Botswana’s
shipments went up 21% to $5.6 billion, while Russian exports jumped 28% to
$4.39 billion and Israel’s rose 15% to $3.22 billion.
While global trading was higher than in 2015, it still
lagged behind 2014. That year, worldwide exports totaled $58.12 billion, or 420.6 million carats, and imports stood at $56.63
billion, or 409.1 million carats.
Top 10 Rough Exporters by Value in 2016
| Country |
Exports ($B) |
Volume (M cts.) |
| European Union |
13.01 |
101.4 |
| United Arab Emirates |
8.60 |
68.9 |
| Botswana |
5.60 |
31.4 |
| Russia |
4.39 |
42.7 |
| Israel |
3.22 |
12.0 |
| India |
1.79 |
38.5 |
| Switzerland |
1.67 |
4.5 |
| China |
1.62 |
11.0 |
| South Africa |
1.53 |
10.6 |
| Canada |
1.46 |
13.1 |
Source: Kimberley Process
Top 10 Rough Importers by Value in 2016
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Tags:
Antwerp, EU, European Union, imports and exports, India, Israel, Kimberley Process, KP, Rapaport News, rough imports, rough trading, uae, United Arab Emirates
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