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Belgium Polished Exports Rebound

May 27, 2021 3:55 AM   By Rapaport News
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RAPAPORT... Belgium’s polished-diamond exports more than quadrupled year on year to $566 million in April, reflecting the comparison with the peak of the 2020 coronavirus crisis, according to data the Antwerp World Diamond Centre (AWDC) released this week. Shipments were down versus March, however, as trading returned to more normal levels following a release of pent-up demand earlier in the year.

Belgium trade data for April 2021

  April 2021 Year-on-year change
Polished exports $566M 330%
Polished imports $569M 499%
Net polished exports -$3M 2020: Surplus of $37M
Rough imports $933M 643%
Rough exports $829M 2267%
Net rough imports $104M 15%
Net diamond account -$106M Deficit increased 98%
Polished exports by volume 297,288 carats 335%
Average price of polished exports $1,904/carat -1%
  January-April 2021 Year-on-year change
Polished exports $2.36B 30%
Polished imports $2.38B 23%
Net polished exports -$22M Deficit decreased 82%
Rough imports $3.33B 48%
Rough exports $3.41B 81%
Net rough imports -$86M 2020: Surplus of $360M
Net diamond account $64M 2020: Deficit of $481M
Polished exports by volume 1.2 million carats 24%
Average price of polished exports $2,044/carat 5%

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