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Belgium Export Data Looking More Positive

Dec 15, 2019 7:41 AM   By Rapaport News
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RAPAPORT... Belgium’s diamond trade showed signs of stabilizing in November, with rough exports increasing year on year for the first time since April. While polished exports dropped 22%, the rate of decline slowed versus October, data from the Antwerp World Diamond Centre showed.

Belgium Trade Data for November 2019

  Nov 2019 Year-on-year change
     
Polished exports $672 -22%
Polished imports $576 -27%
Net polished exports $96 25%
Rough imports $813 -7%
Rough exports $849 1%
Net rough imports -$36 2018: Surplus of $31M
Net diamond account $133 192%
     
Polished exports: volume 297,424 carats -23%
Average price of polished exports $2,261/carat 1%
     
  Jan-Nov 2019 Year-on-year change
     
Polished exports $9,349 -13%
Polished imports $9,525 -11%
Net polished exports -$176 Deficit widened 313%
Rough imports $7,306 -26%
Rough exports $8,191 -28%
Net rough imports -$885 Deficit narrowed 38%
Net diamond account $709 -49%
     
Polished exports: volume 3.8 million carats -14%
Average price of polished exports $2,449/carat 1%
     
All numbers in millions unless stated otherwise.


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