Value of Antwerp's Rough Keeps Dropping as Demand Withers

(IDEX Online News) – Belgium exported the same quantity of rough as last year, but valued it for a lot less, this past August. Imports, however, marked a sharp drop, reflection the limited interest in manufacturing as long as polished is in low demand.

Belgium exported 3.76 million carats worth $429.9 million, a 4 percent increase in volume and 34.4 percent drop in value compared to August 2011, according to figures published by AWDC this week.

This translates to a 37 percent decline in the average value of exports.

Imports made a double-digit dive to 4.39 million carats worth $656.1 million – dropping 39.6 percent and 45.6 percent, respectively. The average value of imports declined 10 percent year-over-year.

Although trade in August, when most local traders are away on vacation, is expected to decline compared to July, the trend it follows is unmistakable: August was the third consecutive month of rough diamond declines. Imports have withered by about 16 percent in June, July and August.

Source: AWDC