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Belgium’s Polished Trade Slows in July

Exports to Hong Kong fall 39%; rough imports and exports also down.
Aug 8, 2017 8:08 AM   By Rapaport News
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A drop in exports to Hong Kong dented the Belgian polished-diamond trade in July, according to data from the Antwerp World Diamond Centre (AWDC).

Belgium’s total polished exports for the month fell 1% year on year to $1.01 billion, with shipments to Hong Kong diving 39% to $131.9 million. Still, orders from the US — Belgium’s largest export market for polished diamonds — partly offset that decline by rising 22% to $370.4 million, while shipments to Israel increased 16% to $118 million, the recent figures from the AWDC showed.

The total volume of polished exports dropped 9% to 480,158 carats, with the average price rising 9% to $2,107 per carat. Meanwhile, polished imports fell 12% to $740.6 million, leaving net polished exports 48% higher at $270.8 million.

The rough trade was down as well, with imports sliding 14% to $777.3 million and rough exports dipping 4% to $1.12 billion. Net rough imports stood at negative $347.4 million — compared with negative $260.2 million a year earlier — as the nation exported a greater value of rough than it imported.

Belgium’s July net diamond account, calculated as total rough and polished exports minus total imports, jumped 40% to $618.2 million.

The decline in trade extended to the first seven months of the year, during which polished exports fell 8% to $7.07 billion, while rough imports dropped 13% to $6.45 billion.

Image: The Port House, Antwerp
Tags: Antwerp World Diamond Centre, AWDC, Belgium, exports, Hong Kong, imports, Israel, Polished Trade, polished-diamond trade, Rapaport News, US
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