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Belgium Polished Trade Slips in October
Nov 16, 2020 10:31 AM
By Rapaport News
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RAPAPORT... Belgium’s polished-diamond exports fell 6% year on year to $629 million in October as lower shipments to Hong Kong and France outweighed a rise in orders from the US.
However, unusually high-value exports to France in October 2019 skewed the year-on-year comparison, a spokesperson for the Antwerp World Diamond Centre (AWDC) noted Monday.
Rough trading increased amid stronger sales by the large mining companies. Polished exports were down 47% for the first 10 months of 2020, according to data the AWDC released this week.
Belgium trade data for October 2020
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October 2020 |
Year-on-year change |
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| Polished exports |
$629M |
-6% |
| Polished imports |
$498M |
-27% |
| Net polished exports |
$131M |
2019: Deficit of $9M |
| Rough imports |
$873M |
65% |
| Rough exports |
$957M |
75% |
| Net rough imports |
-$84M |
Deficit increased 423% |
| Net diamond account |
$214M |
2910% |
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| Polished exports by volume |
297,154 carats |
-14% |
| Average price of polished exports |
$2,117/carat |
9% |
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January-October 2020 |
Year-on-year change |
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| Polished exports |
$4.57B |
-47% |
| Polished imports |
$4.49B |
-50% |
| Net polished exports |
$82M |
2019: Deficit of $267M |
| Rough imports |
$5.26B |
-19% |
| Rough exports |
$4.99B |
-32% |
| Net rough imports |
$272M |
2019: Deficit of $848M |
| Net diamond account |
-$191M |
2019: Surplus of $582M |
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| Polished exports by volume |
2.2 million carats |
-38% |
| Average price of polished exports |
$2,108/carat |
-14% |
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: Models show off diamond rings at the Kimberley Process intersessional meeting in Antwerp, June 2018. (AWDC)
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Tags:
Antwerp, Antwerp World Diamond Centre, AWDC, Belgium, net diamond account, Polished Diamonds, polished exports, polished imports, Rapaport News, Rough Diamonds
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