Rough diamond exports from Antwerp rose by 10.7% and overall trade for the centre was up 5% in 2016 as compared to a year earlier, according to the Antwerp World Diamond Centre (AWDC). The polished trade however, continued to lag with exports dipping by 9.7% during the year.

A total of 202 million carats of rough and polished diamonds, with an overall value of US$ 48 billion were traded in Antwerp in 2016. According to the AWDC, "While the value of diamonds traded in Antwerp in 2016 remained stable with regard to 2015, trade volumes increased 5% and the mood on the market is much more positive than the year prior."

AWDC said that there was a marked recovery in the rough diamond trade. During the January to December 2016 period, 100.8 million carats of rough diamonds were exported at a value of US$ 12.72 billion, a growth of 4.90% and 10.68% respectively as compared to 2015, while 89.9 million carats were imported at a value of US$ 12.08 billion, an increase of 7.09% and 8.64% respectively y-o-y.

However, the polished trade continued to be slow. During 2016, 5.4 million carats of polished diamonds were exported at a value of US$ 11.8 billion, a year-on-year decline of 8.84% and 9.73% in volume and value terms respectively, while 6.05 million carats were imported at a value of US$ 11.39 billion, down 7.05% and 9.96% in volume and value terms respectively as compared to 2015. 

The AWDC said that the downward trend in polished diamonds was a phenomenon seen across the diamond trade globally due to the impact of the demonetisation in India, and more importantly to slow economic growth in the BRIC countries.

US continued to be the main destination for polished, with exports valued at US$ 3.19 billion, a drop of 11.01%. Hong Kong, which came in at No 2, saw a 11.50% fall in exports to US$ 3.06 billion, and many other markets all registered declines. Polished exports to India were down 9.37%, to Israel down 2.56%, and to the UAE down 8.18%. China and France were the sole exceptions with exports of poilshed rising 7.87% and 17.36% respectively.

US was the leading supplier for polished with Antwerp importing US$ 2.73 billion worth of goods, which however was 6.88% below the figure for 2015. Hong Kong supplied US$ 2.45 bn worth of goods, 17.22% below the 2015 level, while India, the largest supplier in terms of volume in 2016, supplied polished valued at US$ 1.69 billion, which marked a 1.25% drop as compared to 2015.

AWDC CEO Ari Epstein said, “2016 was a good year, but the future is looking bright. Commercial production started recently at the Renard Mine and Gahcho Kué Mine in Canada, as well as the Liqhobong Mine in Lesotho, and 100% of the sales of these goods will take place in Antwerp. We expect these productions to deliver an additional seven million carats onto the market in 2017. Antwerp’s prospects are promising indeed.”