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Belgium’s Polished Exports +9% in March
Apr 29, 2014 6:43 AM
By Ronen Shnidman
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RAPAPORT... Belgium's polished diamond exports rose 9 percent year on year to $1.32 billion in March, according to the Antwerp World Diamond Centre (AWDC). By volume, polished exports dropped 13 percent to 534,934 carats, while the average price jumped 25 percent to $2,466.78 per carat.
Polished imports increased 15 percent to $1.459 billion, despite declining 4 percent by volume. As a result, net polished exports, reflecting exports minus imports, fell to a deficit of $139 million, from a deficit of $54 million in March 2013.
Polished exports to Switzerland almost quadrupled to $387.7 million, ranking as Belgium's largest export destination during the month, followed by the U.S. and India.
Rough diamond imports to Belgium grew 13 percent to $1.34 billion and increased 10 percent by volume to 9.067 million carats. In contrast, rough exports declined 2 percent to $1.371 billion, despite growing 6 percent by volume. Net rough imports -- imports minus exports -- recorded a deficit of $30 million, compared with a deficit of $220.3 million one year ago.
Belgium's March net diamond account, representing total polished and rough exports minus total imports, fell to a deficit of $109.3 million compared with a surplus of $166.3 million one year ago.
For the first quarter than ended March 31, polished exports rose 18 percent year on year to $3.92 billion and increased 2 percent by volume to 1.694 million carats. Polished imports grew 14 percent to $3.654 billion, while increasing 2 percent by volume. Net polished exports more than doubled to $266 million during the quarter.
Polished exports to Hong Kong grew 11 percent to $962.7 million, while exports to the U.S. rose 6 percent to $915.8 million during the period. Switzerland, Israel and United Arab Emirates, respectively, rounded out the top five destinations of Belgium's polished exports during the quarter.
Rough imports grew 17 percent to $4.05 billion, while rough exports rose 13 percent to $4.037 billion. Net rough imports for the quarter reached $13.5 million, compared with a deficit of $105.8 million during the same quarter last year.
Antwerp’s net diamond account for the quarter rose 17 percent year on year to $252.7 million.
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Tags:
2014, Antwerp, Belgium, first quarter, imports export, march, net diamond account, Ronen Shnidman, trade
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