Belgium’s Net Polished Diamond Exports $28.6 Million in June

Belgium continued to increase its exports of polished diamonds in June, however a half year total shows that in some respects consumer demand is yet to meet previous highs.

Gross exports of 680,720 carats at a value of $1.09 billion increased 3.3 percent in volume and 44.5 percent in value compared to June 2009, according to figures released last week by the AWDC. Month-over-month, exports rose 8.1 percent in volume and 18.6 percent in value.

Imports declined 1.4 percent in volume to 664,894 carats but rose 40.3 percent in volume to $1.06 billion.

Belgium’s net exports of 15,827 carats were worth $28.6 million in June.

Year to date, the value of gross exports increased by 32.2 percent to $5.35 billion in the first half of 2010 compared to 2009 and the volume of exports rose by 2.5 percent. Net exports have actually declined in volume while rising 57 percent in value: $312.8 million with the volume carrying a negative total of 240,319 carats - an overhang.

The figures do not necessarily indicate a negative trend. Consumer sentiment may have shifted, with buyers preferring bigger and more expensive diamonds to smaller and less pricey items.