Antwerp’s Polished Diamond Trade Rises, Yet Value Lost

(IDEX Online News) – Belgium exported in March 696,191 carats of polished diamonds worth $1.3 billion, increasing 39.4% and 16.4% respectively, according to data released today by the AWDC. It imported 959,954 carats worth $1.34 billion, increasing 23% by volume and 17.6% by value.

Belgium had a net export of 10,522 carats, yet by value, an overhang of $35.2 million was created.

Oddly, this means that value was not added to polished diamond passing through Belgium. In fact, value was lost, as evident by the average prices: $1,394.31 p/c for imports and $1,342.90 p/c for exports, a loss of $51 or 3.7% per carat.

A possible explanation could be large exports of cheaper goods, while imports leaned towards higher value items. For example, imports from India averaged $746.69 p/c, while exports to India averaged $601.63 p/c.