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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 |
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| 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% |
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| 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)
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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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