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Belgium Trade Declines in February

Mar 10, 2019 12:18 AM   By Rapaport News
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RAPAPORT... Belgium’s shipments of rough and polished slowed in February. An 8% drop in the volume of polished exports outweighed growth in the average price, with the total value down 3% for the month, according to data the Antwerp World Diamond Centre (AWDC) released last week. The decline reflected a drop in orders from Hong Kong, the US, Switzerland, Israel and India. Rough imports and exports also slumped.

Millions unless stated otherwise Feb 2019 Year-on-year change
     
Polished exports $1,240.4 -3%
Polished imports $769.7 7%
Net polished exports $470.7 -16%
Rough imports $620.9 -28%
Rough exports $853.5 -17%
Net rough imports -$232.7 Deficit increased 49%
Net diamond account $703.4 -2%
     
Polished exports: volume 461,242 carats -8%
Average price of polished exports $2,689/carat 6%



Source: Antwerp World Diamond Centre/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 is also a net exporter of rough. While Antwerp is 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: Polished diamonds. (De Beers)
Tags: Antwerp World Diamond Centre, AWDC, Belgium trade, belgium trade data, net diamond account, net polished exports, Net rough imports, Rapaport News
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