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Belgium Trade Hits 18-Month High
Apr 19, 2021 10:51 AM
By Rapaport News
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RAPAPORT... Belgium’s polished-diamond exports jumped 40% year on year to $716 million in March, reaching the highest level since September 2019. Rough trading also grew sharply, according to data the Antwerp World Diamond Centre (AWDC) released last week.
“Continuing on the trend of the final months of 2020, the first quarter of 2021 demonstrates Antwerp’s resilience and its agility to remain fully operational while the world continues to battle the pandemic,” an AWDC spokesperson said. The city has hosted more than 30 rough tenders in the past three months, the organization pointed out.
Belgium Trade Data for March 2021
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March 2021 |
Year-on-year change |
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| Polished exports |
$716M |
40% |
| Polished imports |
$727M |
81% |
| Net polished exports |
-$11M |
2020: Surplus of $112M |
| Rough imports |
$891M |
46% |
| Rough exports |
$954M |
113% |
| Net rough imports |
-$64M |
2020: Surplus of $164M |
| Net diamond account |
$53M |
2020: Deficit of $52M |
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| Polished exports by volume |
296,837 carats |
7% |
| Average price of polished exports |
$2,413/carat |
30% |
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January-March 2021 |
Year-on-year change |
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| Polished exports |
$1.79B |
7% |
| Polished imports |
$1.81B |
-2% |
| Net polished exports |
-$19M |
Deficit decreased 88% |
| Rough imports |
$2.4B |
13% |
| Rough exports |
$2.58B |
39% |
| Net rough imports |
-$189M |
2020: Surplus of $269M |
| Net diamond account |
$170M |
2020: Deficit of $427M |
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| Polished exports by volume |
855,565 carats |
-1% |
| Average price of polished exports |
$2,092/carat |
8% |
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: The diamond district in Antwerp. (AWDC)
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Tags:
Antwerp, Antwerp World Diamond Centre, AWDC, Belgium, exports, imports, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports
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