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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)
