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Belgium Polished Exports Jump Again

Nov 7, 2021 9:25 AM   By Rapaport News
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RAPAPORT... 
Belgium has registered its seventh consecutive monthly increase in polished-diamond exports, with shipments growing 32% year on year in September. A rise in the average price outweighed a slight decline in volume, according to Rapaport calculations based on recent data from the Antwerp World Diamond Centre (AWDC).

Belgium Trade Data for September 2021

  September 2021 Year-on-year change
     
Polished exports $692M 32%
Polished imports $648M 16%
Net polished exports $43M 2020: Deficit of $33M
Rough imports $839M 0%
Rough exports $1.06B -2%
Net rough imports -$219M Deficit decreased 10%
Net diamond account $262M 24%
     
Polished exports (volume) 306,603 carats -2%
Average price of polished exports $2,255/carat 35%
     
  January-September 2021 Year-on-year change
     
Polished exports $5.45B 38%
Polished imports $6B 40%
Net polished exports -$146M Deficit increased 199%
Rough imports $7.79B 77%
Rough exports $8.23B 104%
Net rough imports -$441M 2020: Surplus of $356M
Net diamond account $295M 2020: Deficit of $405M
     
Polished exports (volume) 2.7 million carats 42%
Average price of polished exports $2,049/carat -3%


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 Antwerp diamond district. (Antwerp World Diamond Centre)
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Tags: Antwerp, AWDC, Belgium, data, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports, the Antwerp World Diamond Centre, trade data
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