Belgium's Net Polished Trade Creates $0.5 Billion Overhang in August

(IDEX Online News) – Antwerp's traders created a half billion dollar overhang in August after their exports were slashed to 40 percent of their usual levels, based on figures released Tuesday by the AWDC.

Gross polished diamond exports stood at $528 million, rising 49.3 percent year-over-year. The volume of exports increased by 22 percent to 325,507 carats compared to last year. However, in recent months exports were about triple those levels.

Month-over-month, exports dropped by about 65 percent.

Imports in August increased 45.8 percent year-over-year to $987.7 million though the volume edged up by 7.2 percent to 673,021 carats – in line with imports in the preceding months. This left Antwerp with an overhang of 347,515 carat worth $460 million.

The averaged value of exports, $1,622.04 per carat, represented a 10.5 percent added value by the trading center.

The U.S., Hong Kong and Israel were Belgium's leading trading partners in the period.

Source: AWDC