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Belgium Trade Increases in July

Polished exports grow 8% as average price rises 13%.
Aug 14, 2018 9:57 AM   By Rapaport News
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RAPAPORT... Belgium saw a jump in rough and polished shipments in July, reflecting higher average prices, according to data the Antwerp World Diamond Centre (AWDC) released this week. Imports and exports of both categories for the first seven months of 2018 are also higher than they were in the same period last year.

Belgium Diamond Trade Data for July 2018

$ Millions unless stated otherwise July 2018 Year-on-year change
     
Polished exports 1,097 8%
Polished imports 940 28%
Net polished exports 157 -43%
Rough imports 956 23%
Rough exports 1,329 18%
Net rough imports (374) Deficit increased 8%
Net diamond account 530 -15%
     
Polished exports: volume (thousand carats) 461 -4%
Average price of polished exports ($/carat) 2,381 13%
     
  Jan-July 2018 Year-on-year change
Polished exports 7,227 2%
Polished imports 7,117 5%
Net polished exports 110 -60%
Rough imports 6,841 6%
Rough exports 8,177 6%
Net rough imports (1,336) Deficit increased 5%
Net diamond account 1,446 -7%


Source: Antwerp World Diamond Centre; Rapaport calculations

About the data: Belgium is usually a net exporter of polished diamonds. As such, net polished exports — representing polished exports minus polished imports — will normally be a positive number. The nation is also a net exporter of rough. While Antwerp is home to some high-value manufacturing, its main role in the market is as a facilitator of rough-diamond trading, with companies from around the world coming to the city to buy rough. The net diamond account is total rough and polished exports minus total imports. It is Belgium’s diamond trade balance, and shows the added value the nation creates by exporting rough or manufacturing it into polished.

Main image: Antwerp World Diamond Centre
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Tags: Antwerp, Antwerp World Diamond Centre, AWDC, Belgium, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports
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