Rise in Belgium’s Rough Diamond Imports
November 09, 09
The rough diamond trade in Antwerp is hot and active. Goods are changing hands quickly and their prices rising in the process – as if the 2008 crisis never took place. Last month Belgium saw its year-over-year trade increase by about 10 percent, yet a large chunk of it, mostly cheaper goods, did not leave the country, according to figures released by the Antwerp World Diamond Centre. Belgium exported US$678.09 million worth of goods in October, at an average value of US$94.74 per carat, a 9.5 percent increase in the value of exports. These goods included gem and industrial-grade goods. The volume of exports, 7.16 million carats is a 15.8 percent increase compared to October 2008. Rough diamond imports, rising for the third consecutive month, totaled US$746.87 million on shipments of 9.03 million carats, increasing 11.5 percent and 16.8 percent, respectively. The average value of imports, US$94.74 p/c, decreased 5.4 percent compared to last year. The large imports resulted in an overhang of 1.87 million carats worth US$68.79 million, or a low average of US$36.83 p/c. This indicates that while the higher value goods were exported, the lower value items did not go overseas to the manufacturing centers. Compared to September, Belgium’s exports fell 9.5 percent in value and 28.3 percent in volume while imports rose 20.1 percent in value and 16.1 percent in volume. Rough diamond prices have been rising in the past few months regaining some of the price decreases suffered since September 2008.
