BRUSSELS: Belgium’s polished diamond exports fell 27 percent year on year to $929.3 million in October, according to data published by the Antwerp World Diamond Council. By volume, polished exports dropped 14 percent to 484,158 carats, while the average price of the exports decreased 15 percent to $1,919 per carat.
Belgium’s supply to its main national markets fell heavily during the month. Exports to the U.S. slumped 26 percent to $323.6 million but were still the largest chunk of the country’s sales in October in value terms. Exports to Hong Kong, another key consumer market, fell 18 percent to $132.8 million, while exports to Israel plummeted 43 percent to $102.2 million. Sales to the United Arab Emirates dropped 18 percent to $107.7 million. Exports to India plunged 49 percent to $33.3 million.
Belgium’s polished imports fell 25 percent to $880 million in October and the country’s net polished exports, representing the excess of exports over imports, tumbled 51 percent to $49.4 million.
Belgium’s rough imports dropped 14 percent to $961.8 million during the month, while rough exports increased 1 percent to $1.01 billion. Net rough imports, representing imports minus exports, fell to negative $48.9 million compared with a surplus of $121 million one year earlier.
The country’s October net diamond account, which is total exports of rough and polished less total imports, was positive $98.2 million compared with a deficit of $20.04 million in October 2014.
Over the first 10 months of the year, polished exports declined 9 percent to $11.1 billion, while polished imports dropped 8 percent to $12 billion. Net polished exports plunged 73 percent to $88.1 million.
Rough imports decreased 24 percent to $9.6 billion as rough exports fell 25 percent to $9.7 billion. Net rough imports were negative $177.3 million, versus negative $390.02 million in the first ten months of 2014. Belgium’s net diamond account for the year to date decreased 63 percent to $265.4 million.
