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Belgium Sees Downturn in Polished Shipments

Apr 10, 2018 10:18 AM   By Rapaport News
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RAPAPORT... Belgium’s polished-diamond exports dropped in March, according to data from the Antwerp World Diamond Centre (AWDC).

Polished exports decreased 7% year on year to $1.09 billion and, by volume, fell 13% to 423,764 carats. The average price grew 7% to $2,570 per carat.

Polished shipments to Switzerland — which hosted the Baselworld show that month — slid 36% to $270.6 million, and exports to the United Arab Emirates declined 41% to $55.4 million. Those decreases outweighed a 48% jump in exports to Hong Kong to $140 million, while shipments to the US rose 29% to $319.3 million.

Polished imports saw a 1% increase to $1.49 billion, while net polished exports — the excess of exports over imports — stood at negative $400 million, compared with negative $309.6 million a year ago.

Rough imports climbed 10% to $1.17 billion, with rough exports soaring 30% to $1.48 billion. Net rough imports were negative $316.4 million versus negative $86.2 million last year.

The country’s net diamond account — the sum of rough and polished exports minus total imports — came to negative $83.6 million in March compared with negative $223.4 million the previous year.

In the first quarter, polished exports grew 1% to $3.18 billion, while rough imports went up 7% to $3.12 billion.

Image: Lesley Cheung
Tags: Antwerp World Diamond Centre, AWDC, Baselworld, Belgium, net diamond account, polished diamond exports, polished exports, Polished Shipments, Rapaport News
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