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Antwerp Sees Improved Polished Trade

Belgium’s polished diamond exports increased in May, aided by higher shipments to Hong Kong and Israel, according to data from the Antwerp World Diamond Centre (AWDC).

“Polished exports rose 1.4% year on year to $1.12 billion, the AWDC said last week. Shipments to Hong Kong grew 13% to $156.7 million, while orders from Israel jumped 55% to $174.9 million. Exports to Switzerland showed particular improvement, more than doubling to $85.6 million. These increases outweighed a 19% slide in exports to the US, which came to $413.1 million.

By volume, total polished exports fell 12% to 422,711 carats, with the average price climbing 15% to $2,658 per carat. Polished imports, meanwhile, increased 9% in value to $1 billion, leaving net polished exports 35% lower at $120.4 million.

Rough imports fell 18% to $1.06 billion, while exports dropped 3% to $1.24 billion during the month. Net rough imports stood at negative $188 million, versus positive $14.8 million a year ago.

Belgium’s net diamond account — representing total exports minus total imports — grew 80% to $308.4 million.” wrote Rapaport.

Source: Rapaport