Belgium Sees Mixed Trade Results for February

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RAPAPORT… Belgium’s polished-diamond exports fell 6% year on year to $527 million in February, the Antwerp World Diamond Centre (AWDC) reported last week. However, rough trading surged, with imports rising 28% to $877 million and exports increasing 20% to $862 million.

Belgium Trade Data for February 2021

 February 2021Year-on-year change
   
Polished exports$527M-6%
Polished imports$512M-25%
Net polished exports$15M2020: Deficit of $124M
Rough imports$877M28%
Rough exports$862M20%
Net rough imports$15M2020: Deficit of $34M
Net diamond account$26,8592020: Deficit of $91M
   
Polished exports by volume527,150 carats-5%
Average price of polished exports$1,929/carat-1%
   
 January-February 2021Year-on-year change
   
Polished exports$1.07B-8%
Polished imports$1.08B-25%
Net polished exports-$8MDeficit decreased 97%
Rough imports$1.5B-1%
Rough exports$1.63B16%
Net rough imports$126M2020: Deficit of $105M
Net diamond account$117M2020: Deficit of $376M
   
Polished exports by volume558,728 carats-5%
Average price of polished exports$1,922/carat-3%
Sources: Antwerp World Diamond Centre (AWDC); Rapaport archives.

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 has historically been a net importer of rough, though in recent years, it has often been a net rough exporter. While Antwerp is still 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.

Image: Antwerp. (Tyler Allen/Flickr)

Source: diamonds.net Rapaport

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