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Belgium polished diamond exports decline

Belgium polished diamond exports decline

BRUSSELS: Polished exports fell 12% year on year to $1 billion during the month, with imports also down 12% to $1.08 billion. Net polished exports stood at negative $73.3 million versus negative $84.3 million a year ago as Belgium exported a lower value of polished diamonds than it imported.

By volume, polished exports fell 8% to 460,201 carats. The average price of those exports declined 4% to $2,183 per carat.

Polished exports to Hong Kong, Belgium’s biggest trade partner for polished diamonds, dived 22% to $354.4 million. US exports dipped 2.3% to $212 million.

Meanwhile, rough-diamond imports grew 5% to $996.5 million, and rough exports jumped 24% to $1.19 billion, the AWDC data showed. Net rough imports amounted to negative $192.9 million, compared with negative $14.4 million a year earlier.

Belgium’s June net diamond account — total rough and polished exports minus total imports — was $119.6 million versus negative $70 million the year before.

During the first half of the year, Belgium’s polished exports fell 9% year on year to $6.06 billion. Polished imports dropped 6%, also reaching $6.06 billion, while net polished exports slid to negative $1.2 million from positive $220.1 million.

First-half rough imports slumped 13% to $5.67 billion, with rough exports down 1.5% to $6.6 billion. Net rough imports came to negative $931 million compared with negative $193.5 million a year back.

The net diamond account for the six months more than doubled to $929.8 million from $413.7 million the previous year.