Belgium’s Diamond Exports Slide

RAPAPORT… Belgium’s polished diamond exports fell 4% year on year to $1.19 billion in September, as shipments to its two largest markets — the US and Hong Kong — continued to decline, data published by the Antwerp World Diamond Centre (AWDC) showed.

By volume, the exports slid 13% to 458,735.12 carats, while the average price of the goods rose 10% to $2,587.06 per carat.

Hong Kong ranked as Belgium’s largest market for polished diamonds, even as exports there fell 1.5% to $642.6 million during the month. Shipments to the US declined 17% to $202.8 million. During the first nine months of the year, exports to Hong Kong and the US have dropped 14% and 13%, respectively. The country’s exports to India grew 29% in the nine-month period.

Belgium’s polished imports fell 6% to $1.2 billion in September, as net polished exports improved by 55% to negative $17.8 million — meaning imports exceeded exports by that amount.

Rough imports slid 19% to $975.6 million during the month, and rough exports declined 23% to $1.1 billion. Belgium was a net exporter of rough during September amounting to $126 million.

The country’s September net diamond account — which calculates total imports of rough and polished minus total exports — declined 37% to $108.2 million. For the first nine months of the year, its net diamond account jumped 97% to $1.28 billion.