Belgium Polished Trade Leaps 40% in April

Exports of polished diamonds from Belgium rose a steep 53.11 percent in value in April, buoyed by strong trade with the U.S. and Israel. But while the diamond center increased its exports, imports were high as well, leaving the net trade in a deficit.

Belgium exported a gross of 806,522 carats, rising 5.66 percent over April 2007, worth $1.104 billion, an average of $1,368.82 per carat. Imports rose to 916,359 carats worth $1.165 billion, rising 6.44 percent and 41.33 percent respectably. The average per carat value of imports in April was $1,271.26

This leaves Belgium’s net trade with a surplus of 109,836 carats worth $60.95 million, averaging a rather low $554.92 per carat.

Exports to the U.S. of 82,220 carats worth $265.7 million were a 14.38 percent year-over-year decrease in volume and 37.44 percent increase in value. Exports to Israel more then doubled in value to $158.44 million (+120.19 percent) rising a sharp 67.40 percent in volume to 65,989.17 carats.

It is interesting to note that exports to India more than quadrupled, soaring 317.46 percent to $57.7 million on shipments of 96,123.83 carats, a modest rise of 6.83 percent in volume.

India, which last year was not even in the top ten export destinations, took in goods worth an average of $600.64, either to supply the growing jewelry manufacturing industry or, more likely, the growing consumer industry.