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Belgium Diamond Exports Continue to Rise

Aug 29, 2021 10:43 AM   By Rapaport News
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Belgium’s polished-diamond exports increased in July, though the growth was gentler than in previous months as the market began to stabilize. Rough trading saw a sharp rise, according to recent data from the Antwerp World Diamond Centre (AWDC), as miners continued to sell large volumes in response to strong demand.

Belgium Trade Data for July 2021

  July 2021 Year-on-year change
     
Polished exports $710M 23%
Polished imports $572M 9%
Net polished exports $139M 144%
Rough imports $927M 147%
Rough exports $1.13B 275%
Net rough imports -$205M 2020: Surplus of $74M
Net diamond account $344M 2020: Deficit of $17M
     
Polished exports by volume 404,090 carats 86%
Average price of polished exports $1,758/carat -34%
     
  January-July 2021 Year-on-year change
     
Polished exports $4.36B 42%
Polished imports $4.32B 43%
Net polished exports $37M -13%
Rough imports $5.93B 90%
Rough exports $6.52B 156%
Net rough imports -$596M 2020: Surplus of $569M
Net diamond account $632M 2020: Deficit of $527M
     
Polished exports by volume 2.2 million carats 55%
Average price of polished exports $2,001/carat -8%


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