Belgium Rough Diamond Trade Comes to Life in October

Belgium exported 10 million carats of goods worth $1.24 billion in October, an increase of 142.8 percent by volume and 67.2 percent by value, according to figures published today (Thursday) by AWDC.

Rough diamond exports also increased. Some 9.7 million carats worth $1.16 billion were imported in October, an increase of 50.7 percent by volume and 29.1 percent by value.

The positive change is not without a price, however. The average value of rough diamond exports, $123.95 per carat (p/c), is just 3.8 percent more than the average value of imports, $119.38 p/c, indicating eroding margins.

By comparison, in October 2011, the price difference was 29.1 percent meaning that the average price has dropped sharply since last year. The value of exports fell 31.1 percent while imports decline 14.4 percent.