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Belgium's October Polished Diamond Exports -4%

Nov 16, 2014 8:47 AM   By Avi Krawitz
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RAPAPORT... Belgium’s polished diamond exports fell 4 percent year on year to $1.28 billion in October, according to data published by the Antwerp World Diamond Council (AWDC). By volume, polished exports dropped 11 percent to 565,359 carats, while the average price of the exports rose 8 percent to $2,265 per carat.

Belgium’s supply to the two main consumer markets fell during the month, while its exports to other trading centers increased. Polished exports to the U.S. dropped 1 percent to $435.7 million and exports to Hong Kong declined by 13 percent to $162.6 million. Polished exports to Israel grew 19 percent to $180.5 million, while to India they increased 19 percent to $65.8 million. Exports to the United Arab Emirates rose 26 percent to $131.3 million.

Belgium’s polished imports fell 4 percent $1.179 billion in October and the country’s net polished exports, representing the excess of exports over imports, declined 2 percent to $101 million.

Belgium’s rough imports dropped 1 percent to $1.12 billion during the month, while rough exports declined 16 percent to $999.76 million. Net rough imports, representing imports minus exports, rose to $120.96 million compared with a deficit of  $59.16 million one year earlier.

Belgium’s October net diamond account, which is total exports of rough and polished less total imports, fell to a deficit of $19.93 million compared with a surplus of $162.27 million in October 2013.

During the first 10 months of the year, Belgium’s polished exports grew 5 percent to $12.285 billion, while polished imports rose 5 percent to $11.962 billion. Net polished exports rose 22 percent to $323.73 million.

Rough imports grew 14 percent to $12.64 billion as rough exports rose 9 percent to $13.03 billion. Net rough imports improved by 59 percent to a deficit of $390.04 million.

Belgium’s net diamond account totaled $713.77 million. 
Tags: Antwerp, Avi Krawitz, AWDC, diamonds, Rapaport
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