Antwerp Rough Diamond Trade Rebounds in July, Polished Still Slow

Finance and Trade
08/08/2016 10:21

Antwerp's rough diamond trade rebounded in July, according to figures released by the Antwerp World Diamond Centre, while the polished trade could not shake its downward trend. Rough exports in July increased 14% in value to $1.17 billion on a 29% increase in volume traded at 9 million carats, compared to just 7 million carats a year ago. These volumes corrected the slight dip in exports in June. Rough imports also rose 16.5% in value and 22% in volume over July 2015. For the year thus far, rough exports and imports have increased 6% and 4% in value respectively as compared to the first seven months of 2015: rough exports have been worth $6.7 billion and imports $6.5 billion to the Belgian trade for the year thus far.

Polished diamond exports were down once again in July, falling more than 14% in value and 15% in volume compared to the same month a year ago, although they remained steady as compared to the months prior, at $1.02 billion. Polished imports, on the other hand, did not maintain the promise displayed in June, declining 17% in value and nearly 13% in volume compared to July 2015, as polished imports recorded the slowest month of the year thus far. Some $840 million in polished diamonds were imported into Antwerp. Polished exports to the United States, Israel and Switzerland all declined during July, while trade with Hong Kong remained steady and gains were recorded in exports to UAE and China - the latter increasing 63% in value and 143% in volume compared to July 2015.