Belgium Polished Diamond Net Exports $226.4 Million

Belgium experienced a sharp rise in polished diamond exports in September crossing the $1 billion mark for the first time this year. Belgium exported 796,649 carats of polished diamonds with an average value of $1,308.88 per carat during the month. The total value of exports is $1.043 billion.

According to the AWDC, which publishes the data, the figures “appear to show that the fledgling recovery, while gradually gathering strength, remains fragile.” The cautious outlook comes as the trading center is “anxiously waiting to see the strength of U.S. consumer jewelry purchases” during the important Christmas sales season.

Compared to last year, when the economic crisis started to unfold, exports are 10.9 percent lower by volume and by 25.1 percent by value.

Imports, rising ahead of the selling season, totaled 705,556 carats with a stated vale of $816.3 million, averaging $1,156.96 p/c. That brought September net exports to $226.42 million, leaping 176.4 percent above the $81.91 million in net exports in September 2008.

Most exports (40.8%) were to Hong Kong, ahead of the large trade fair that opened on September 21. However, shipments of 235,083 carats worth $425.14 million to Hong Kong were still 14.8 percent below the value of exports last year. This largely reflects the price decrease since September 2008.

Exports to the U.S. of $223.35 million carried a high average value of

$2,929.50 p/c, but were still 29.1 percent below exports last year, not a very positive sign ahead of the holiday season.