BRUSSELS: Belgium’s polished diamond exports dropped 12 percent year on year to $920.4 million in November, according to the Antwerp World Diamond Centre (AWDC). By volume, exports slid 16 percent to 382,491 carats, while the average price fell 5 percent to $2,406 per carat.
Among Belgium’s main trading partners, polished exports to Hong Kong increased 0.7 percent to $188.1 million. Exports to most other major markets declined: the U.S. by 18 percent to $255.7 million, Israel by 27 percent to $79.6 million and the United Arab Emirates by 21 percent to $111.2 million. Exports to Switzerland surged 35 percent to $100.4 million, the only large percentage jump among Belgium’s major diamond trade partners.
Total polished imports to Belgium dived 17 percent to $770.2 million during the month as net polished exports, representing exports minus imports, soared 33 percent to $150.2 million.
Rough imports slumped 43 percent to $709.3 million and rough exports plummeted 54 percent to $643.4 million. Net rough imports, representing imports minus exports, moved from negative $171 million to positive $65.8 million during the month. Belgium’s November net diamond account, representing total polished and rough imports less total exports, dived 70 percent to negative $84.4 million.
During the first eleven months of the year, polished exports fell 9 percent to $12.07 billion, while polished imports dropped 8 percent to $11.83 billion. Rough imports declined 26 percent to $10.28 billion and rough exports slipped 28 percent to $10.4 billion. Belgium’s year-to-date net diamond account shrank 64 percent to negative $357.2 million.
