Belgium's Polished Diamond Exports $7 billion in H1, -4.5%

(IDEX Online News) – Antwerp's diamond traders increased their trading activities in June compared to May, likely a result of the Las Vegas and Hong Kong Shows. Despite this increase, year-over-year exports of polished dropped 12.5 percent.

Antwerp exported $1.32 billion worth of polished diamonds in June, an 11.9 percent increase compared to May, based on figures published by the AWDC.

The volume of exports, 637,452 carats, dropped 23 percent compared to June 2011.

Polished diamond imports were also below the previous year's levels. Imports of $1.47 billion softened 0.3 percent while imports 649,764 carats sank 28.6 percent.

The difference between imports and exports suggest an increase in the inventory levels held by the country's diamond traders.

In the first half of 2012, Belgium exported $7.02 worth of polished diamonds, and imported $7.14 billion worth of polished. Compared to the first half of 2011, this is a 4.5 percent decline in exports and 3.7 percent increase in imports.

The U.S. is Belgium's largest trading partner, accepting $1.95 billion or 27.8 percent of the Belgium's exports by value and source of $1.58 billion or 22 percent of Belgium's polished diamond imports in the first half of 2012.

Hong Kong is Belgium's second largest trading partner.