Belgium Record H1 Polished Diamond Exports of $4.01 Billion

The Antwerp diamond center exported 5.09 million carats of polished diamonds during the first half of 2004 worth a record $4.01 billion. In dollar terms this is a 16.4 percent increase, however in volume polished exports fell 1.2 percent compared to the same period in 2003.

During the January to June period of last year the center exported 5.15 million carats of polished diamonds to the tune of $3.44 billion.

"The strong increase in the polished export total is indicative both of the healthy increase in the demand for polished diamond in the jewelry consumer markets, and in Antwerp’s ability to meet that demand,” said Peter Meeus, Managing Director of the HRD.

The HRD says the market, however, responds with mixed feelings. Although the export in polished diamonds shows an increase in terms of prices, the rough prices during same period rose strongly, and it's not fully reflected in the price of polished, putting pressure on the manufacturers and trade’s margins.

Polished diamond exports to the United States increased 6.3 percent during the period to $1.34 billion, accounting for 33.3 percent of total exports from Belgium and the country's largest polished diamond client.

Hong Kong and Israel remained the second and third destinations of Belgium's polished exports, increasing by 24.2 percent and 27.8 percent respectively.

"We are pleased to see what appears to be an improvement in certain of the Western European markets," Meeus noted.

"While Germany’s results are still disappointing, polished diamond exports in dollar terms to Italy rose by 15.5 percent and to France by 23.5 percent. The United Kingdom, which has been strong for some time already, kicked into even higher gear, importing an amazing 48.4 percent more of polished diamonds from Antwerp".