Belgium's Q1 Polished Exports Break The $2 billion Mark

Polished diamond exports from Antwerp crossed $2 billion during the first quarter of 2004, after a 15.4 percent rise in exports compared to the first quarter of 2003.

The HRD Diamond Office says that strong demand was evident from most of the export markets, with eight out of 10 of Antwerp's top national clients registering increases in the double digits.

The center polished diamond exports stood at 2.70 million carats, 9.6 percent more than the 2.46 million carats reported during the first quarter of 2003, bringing the average price per carat of the polished to $743.07 during the quarter, up by 5.3 percent, from $705.56 during the first quarter of 2003.

“The increase in polished diamond exports reflects not only the greater number of diamonds being sold, but also a rise in the price of diamonds,” comments Peter Meeus, HRD's Managing Director.

“Nonetheless, the figures do suggest that increase in prices in the polished diamond sector is lower than those which have been reported by the major rough diamond suppliers.”

While the volume of exports to the U.S. rose by 1.06 percent during the period, the value of U.S. exports rose by 8.5 percent reaching $657.5 million.

The Asian markets were considerably more active, says the HRD, with exports to Hong Kong increasing by 18.5 percent in value to $256.0 million, and exports to Japan rising by 28.9 percent to $94.5 million.

“The increase in exports to Japan is particularly encouraging,” says Meeus.

“This is the first time in years that we are seeing a sustained rise in demand from that market, which clearly has been operating at just a fraction of its potential. Hopefully this trend will continue, and Japan will return to assume the position it had in the market in the early 1990s.”

Polished diamonds Imports into the center rose strongly during the first quarter, with $1.88 billion worth reported, 13.8 percent higher than during the same period a year earlier.

Here, too, the average price of goods was higher, $658 per carat compared to $628.5.