Belgium Polished Diamond Trade Shifts to Higher Value Goods

Belgium exported in November 634,241 carats of polished diamonds with a declared value of $948.17 million, an average value of $1,495 per carat. The trading center decreased its exports by 23.5 percent by volume and 9.85 percent by value.

The sharp boost in the average value of exports took place as exports to the UAE shot up 51.84 percent in value, while declining 15 percent in volume. Belgium exported goods to the tune of $884.33 million, the second leading destination by value in November. In volume, 901,064 carats were exported to the UAE in the month.

The U.S., Belgium’s main trading partner, took in 95,643 carats worth $254.44 million, declining 14.56 percent in volume and 22.06 percent in value, as U.S. jewelry retailers face a tough holiday season. However, the U.S. does seem to have an appetite for nicer goods, as reflected by the high average value of $2,660.30 p/c.

Belgium’s intake in November totaled 593,200 carats valued at $880.39 million, a 22.17 percent decline in volume and slight 0.81 percent rise in value. The average value of imported diamonds rose 29.53 percent year-over-year to $1,484 p/c.

Year to date, Belgium’s trade declined in volume yet rose in value. In the January-November period, the country exported 8.64 million carats worth $9.85 billion. Imports totaled 9.125 million carats at $9.27 billion.