BRUSSELS: Belgium’s diamond trading declined across the board in October, in contrast to a recovery in rough in the previous months of this year.
Rough imports dropped 7 percent from a year ago to $897.4 million in October, while rough exports slumped 29 percent to $721.1 million, according to data provided by the Antwerp World Diamond Centre (AWDC). Inbound and outbound shipments of rough diamonds had increased in six out of the nine months from January to September.
By volume, rough exports slid 32 percent to 5.9 million carats, while imports grew 11 percent to 8.4 million carats. The average price of imported rough fell 16 percent to $106 per carat. Net rough imports stood at $176.3 million in October compared with negative $54.2 million a year ago.
Although polished imports fell 10 percent to $796 million in value terms, they grew 17 percent to 596,676 carats by volume. Polished exports dropped 17 percent to $775.2 million. The average price of exported polished diamonds dipped 5 percent to $1,826 per carat. Net polished exports swung to negative $20.8 million from positive $50.8 million a year ago.
Belgium’s net diamond account, representing total polished and rough imports less total exports, stood at positive $197.1 million versus negative $105 million a year ago.
In the first 10 months, polished imports fell 9 percent to $10.02 billion and polished exports declined by the same percentage to $10.11 billion. Rough imports increased 6 percent to $10.18 billion and rough exports grew 8 percent to $10.54 billion.
