Belgium Rough Diamond Trade Rising to $1.4 Billion
July 16, 09
Belgium exported in June 10.67 million carats of rough diamonds worth $763.17 million. This is an 11 percent decline in volume and 35.3 percent decline in value compared to June 2008.
In the first half of 2009, exports or rough diamonds fell 52 percent to $3.03 billion, reeling from the drop in demand as well as the drop in prices.
The value of imports in June declined 37.6 percent to $657.9 million on imports of 7.8 million carats. In the January-June period imports sagged 54.9 percent to $2.65 billion.
It is interesting to note that rough diamond imports were on a continued rise since April, as were polished diamond exports, though the correlation may only be partial.
Next months figures may confirm the trend. Demand for rough diamonds is growing and prices of many of the articles are rising. Antwerp based Diamond Trading Company (DTC) Sightholders reported small price hikes and improved assortments at the Sight in London this week. If demand is truly growing - and resting on sound economic foundations - it should translate into another month of increased trade.