Nov 17, 2014

Belgium Exports Drop Marginally in October

Exports of polished diamonds from Antwerp were marginally down by 3.63% in value terms during the month of October 2014, from US$ 1.33 mn a year ago to US4 1.28 mn this year, according to statistics released by the Antwerp World Diamond Centre (AWDC). The drop was attributed to the fact that both the Jewish holidays of  Sukkot and Simchat Torah and the Indian festival Diwali fell in this month, though last year they were in September and November respectively.

In volume terms, however, the fall was somewhat larger – 10.79% with total caratage of exports dropping to 5,65,359 carats  from 6,33,771 carats a year ago.

AWDC reported that for the first 10 months of 2014, total exports of polished stood at US$ 12.29 mn as compared to US$ 11.68 mn for the same period a year ago, an increase of 5.16%. In volume terms, polished exports over the first 10 months were also down by 3.5% from 56,32,961 carats in 2013 to 54,35,897 carats this year.

The import-export figures for rough indicate that fewer rough diamonds were traded on the Antwerp market, but the stones traded were higher in value, says the statement.  In percentage terms Imports of rough diamonds dropped by 13.16% and exports by 19.33%. A decline was also visible in value, amounting to a dip by 0.92% and 16.01%, respectively.

The countrywise data indicates that most of the imported goods were from India, Hong Kong and the United Arab Emirates, while polished exports were mainly to Hong Kong, the United States and the United Arab Emirates.

In a separate statement, the AWDC has also announced that the transfer of data between Belgium and China has now been fully automated and secure which will lead to faster and more accurate information exchange, making it easier to detect and identify any discrepancies or problems at an early stage.

Belgium and India already have a similar agreement in place.