Belgium Net Polished Diamond Exports $302 Million

Polished diamond exports from Belgium stood at $958.28 million in July, 34.7 percent less than exported in July 2008, shortly before the onset of the recent economic crisis. While not a radical improvement, the rate of decline is moderating, closing the gap by 0.5 percent compared to June.

Exports of 778,627 carat averaged $1,230.73 per carat.

In the first seven months of 2009, Belgium exported 4.33 million carat of polished diamonds worth $5 billion. This is a 23.2 percent decline in volume and 37.4 percent decline in value, compared to the previous year.

The majority of July’s export, $284.5 million at an average value of $2,650.77 p/c, was shipped to the U.S., a 34 percent year-over-year drop in trade. Hong Kong followed with $163.6 million worth of goods, a 7 percent rise, underscoring the healthy trade in the Far East.

Israel, the third leading destination, took in $109 million worth of goods, a sharp 52.9 percent decline.

Belgium imported 565,371 carats worth $655.9 million in July, for net exports of $302.4 million.