Belgium Net Polished Exports Dives 67% in 2008
January 19, 09
Belgium exported 580,319 carats worth $689.15 million in December, declining 19.37 percent in volume and 22.25 percent in value, according to data released on Monday by the AWDC. The average value of exports declined 3.57 percent to $1,187.54 per carat.
For the year, Belgium exported 8,715,636 carats valued at $12.333 billion, declining 6.92 percent in volume yet growing 14.85 percent in value compared to 2007.
The average value of Belgium’s gross exports in 2008 rose a sharp 23.39 percent to $1,146.87 p/c. December exports were mainly to the U.S. ($184 million, -15%), Hong Kong ($115 million, -7%) and Israel ($91.7 million, -31.6%).
On an annual basis, leading exports were to the same destinations: U.S. ($3.41 billion, +8%), Hong Kong ($2.08 billion, +25.6%) and Israel ($1.61 billion, +18.3%).
Polished diamond imports declined 12.21 percent to $630.8 million, while annually imports rose 20.92 percent to $9.99 billion.
Net trade however shows a grim reality. Net exports fell 65.98 percent in 2008 to just $255.17 million from $749.94 million in 2007. In volume, intake exceeded exports by 906,309 carats.
Polished diamond prices were on an accelerated track during most of the year, leveling for a couple of months in the beginning of the second half of the year and then descended.