Positive signs from the mid-stream centres as well as the consuming markets make it likely that the diamond and jewellery industries will see a strong ending to 2018, World Federation of Diamond Bourses (WFDB) President Ernie Blom has said.

Drawing attention to the import and export figures from key centres as well as other recent reports, Blom said this performance gives the industry “great confidence as we end 2018 and approach the New Year”.

Over the last few weeks, India reported a 19-per cent rise in exports in October, while Belgium posted a 17-per cent increase. Meanwhile, US retail industry research groups are predicting a rise in holiday season sales of around 5 per cent, and consumer purchases on Black Friday and Cyber Monday last month reached record-breaking levels, Blom pointed out.

"The figures are looking upbeat," he said. "Exports of polished diamonds showed a significant increase in two of the most important centers – India and Belgium. Meanwhile, forecasts for the holiday season in the United States are very promising as a result of the strength of the US economy.”

The WFDB President also added, “In Hong Kong, sales of jewellery and other luxury goods came back strongly after the decline in September caused by Typhoon Mangkhut. And just this week we saw a report on a survey carried out last month by the Diamond Producers Association according to which more than 53 million US consumers intend to buy a diamond during the extended festive period from Thanksgiving to Valentine’s Day.”

There was also a note of caution. "Of course, not all the indicators are heading upwards, and the global geopolitical situation can always surprise to the downside. But, all in all, I believe the overall situation is looking good. We can expect to see good sales results and strong restocking in the coming weeks," he concluded.