Belgium Rough Diamond Trade Sizzling

Rough diamond trading at Antwerp's diamond exchanges have shot up in the past months, with traders paying high premiums for the goods

Buoyed by a simmering rough diamond market, Belgium’s rough diamond trade soared in November. Exports of 11.8 million carats worth $838.6 million leaped 65.8 percent year-over-year and 63.6 percent respectively.

Rough diamond imports rose 42.5 percent to $731.7 million. In volume, rough diamond imports rose 28 percent to 8.1 million carats.

Rough exports and imports have been increasing since the start of the year. With the exception of a steep drop in August, exports have been on a continuous rise, growing in November 23.7 percent compared to exports in October of this year.

Net rough diamond exports in November totaled 3.7 million carats, worth $107 million.

Marring the rosy scenario, exports in the first 11 months of 2009 totaled $6.55 billion, a 37.1 percent decline compared to 2008.