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Belgium’s Rough Trade Slumps in May
Jun 26, 2019 5:01 AM
By Rapaport News
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RAPAPORT... Rough exports from Belgium dropped 37% year on year to $741.5
million in May, reflecting continued weakness in the sector. Rough imports fell
16%, according to data from the Antwerp World Diamond Centre. The polished
trade was more stable, with imports climbing 6% during the month. Polished
exports were flat, as the average price rose to the highest level on record for
the country, offsetting a decline in volume.
| Millions unless stated otherwise |
May 2019 |
Year-on-year change |
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| Polished exports |
$1,181 |
0% |
| Polished imports |
$1,053 |
6% |
| Net polished exports |
$127.8 |
-31% |
| Rough imports |
$760.9 |
-16% |
| Rough exports |
$741.5 |
-37% |
| Net rough imports |
$19.4 |
2018: Deficit of $278.9M |
| Net diamond account |
$108.4 |
-77% |
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| Polished exports: volume |
383,189 carats |
-13% |
| Average price of polished exports |
$3,082/carat |
15% |
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Jan-May 2019 |
Year-on-year change |
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| Polished exports |
$5,077 |
0% |
| Polished imports |
$5,153 |
3% |
| Net polished exports |
-$76.1 |
2018: Surplus of $67.6M |
| Rough imports |
$3,680 |
-27% |
| Rough exports |
$4,176 |
-27% |
| Net rough imports |
-$496.7 |
Deficit decreased 32% |
| Net diamond account |
$420.6 |
-48% |
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| Polished exports: volume |
1.9 million carats |
-12% |
| Average price of polished exports |
$2,736/carat |
13% |
Source: Antwerp World Diamond Centre/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
is also a net exporter of rough. While Antwerp is 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: Diamond processing. (Antwerp World Diamond Centre)
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Tags:
Antwerp, Antwerp World Diamond Centre, Average Price, AWDC, Belgium, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, Rapaport News, rough, rough exports, rough imports
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