Belgium Diamond Exports Continue to Rise


RAPAPORT… Belgium’s polished-diamond exports increased in July, though the growth was gentler than in previous months as the market began to stabilize. Rough trading saw a sharp rise, according to recent data from the Antwerp World Diamond Centre (AWDC), as miners continued to sell large volumes in response to strong demand.

Belgium Trade Data for July 2021

 July 2021Year-on-year change
Polished exports$710M23%
Polished imports$572M9%
Net polished exports$139M144%
Rough imports$927M147%
Rough exports$1.13B275%
Net rough imports-$205M2020: Surplus of $74M
Net diamond account$344M2020: Deficit of $17M
Polished exports by volume404,090 carats86%
Average price of polished exports$1,758/carat-34%
 January-July 2021Year-on-year change
Polished exports$4.36B42%
Polished imports$4.32B43%
Net polished exports$37M-13%
Rough imports$5.93B90%
Rough exports$6.52B156%
Net rough imports-$596M2020: Surplus of $569M
Net diamond account$632M2020: Deficit of $527M
Polished exports by volume2.2 million carats55%
Average price of polished exports$2,001/carat-8%
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: Polished diamonds. (Antwerp World Diamond Centre)

Source: Rapaport


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