Belgium’s Polished Diamond Exports Continue Rise In July

Belgium’s gross polished diamond exports in July continued their rising trend in value, while decreasing in volume. The center exported 955,519 carats of diamonds worth $846,102,837, a decline of 2.13 percent in weight, but an increase of 14.04 percent in value compared with export figures for July 2003.

In June, exports fell more than 26 percent in weight while rising nearly 28 percent in value compared to the year earlier figures.

Average price per carat of polished exports stood at $885.50 in July compared to $760 last year.

On a year to date basis, Antwerp exported 6,049,939.08 carats valued at $4,854,181,576 between January and July, an increase both in caratage (4.9 percent) and in value (15.95 percent).

An explanation to the trend seen in June and July might be found in examining polished diamond exports to the U.S. In July, Belgium exported 219,771.82 carats valued at $328,270,030, down 15.21 percent in weight and up 6.9 percent in value compared to July 2003. These exports represent 22 percent of total exports by weight, but a whooping 39 percent by value.

The average price per carat of goods exported to the American market in July was $1,493.68 compared to $1,400.89 in June.

Gross polished diamond imports to the diamond center also registered a rise, importing 777,277 carats to the tune of $614,938,965, increasing 6.27 percent and 31.04 percent respectively. The average price per carat stood at $791.15.

During the January to July period, polished diamond imports rose 7.63 percent to 6,275,617 carats worth 4,438,678,961, up 18.15 percent.