Antwerp's Polished Trade Remains Low in September, Exports -19%

(IDEX Online News) – The improving polished diamond market cannot hide the depth of the fall the wholesale sector of the industry has experienced in the past year. Underscoring this are the recent import and export figures of the diamond center in Antwerp.

Belgium exported $1.11 billion worth of polished diamonds in September, up 6.4 percent compared to July (before the market left for vacation in August), but down 18.9 percent year-over-year, according to AWDC figures.

Belgium's leading trade partner in September was Hong Kong, as traders shipped – and returned goods – to the trade show held there last month.

The decline in year-over-year exports is a combination of fewer imports and lower prices. Exports by volume declined 15.5 percent to 0.7 million carats.

At $2,155.13 per carat (p/c), the average value of exports declined 4 percent compared to last year, further pushing down the value of exports.

In the short term, imports of $1.18 billion increased 25.1 percent compared to July of this year.

Longer term, however, the trend is less positive, with imports falling 23 percent year-over-year, mainly on volume declines of 21.5 percent.

The average value of goods slipped just 1.8 percent to $1,926.03 p/c.

So far this year, Belgium has exported and imported $10 billion worth of polished diamonds.