Belgium’s Polished Diamond Exports Increases to 5%

Belgium’s polished diamond exports in October rose 5.3 percent year on year to $1.105 billion, according to figures provided by the Antwerp World Diamond Centre. Polished diamond imports jumped 26 percent to $1.186 billion, pushing net polished exports into a deficit of $80.3 million compared with net exports of $110.4 million in October 2010.

Rough diamond imports to Belgium in October rose 6.7 percent to $900.7 million and rough exports fell 21.2 percent to $743 million, leaving net rough imports of $157.8 million compared with a rough import deficit of $99 million one year ago. Belgium’s net diamond account, reflecting the difference between net polished exports and net rough imports, held a polished deficit of $238.1 million, up from a deficit of $99.5 million one year ago.

Polished diamond exports for the first 10 months of 2011 rose 33 percent year on year to $12.177 billion and polished imports rose 37 percent to $11.771 billion, leaving net polished exports of $406 million, which was down from $520 million one year ago. Rough diamond imports rose 48 percent to $11.611 billion and rough exports increased 34 percent to $12.057 billion, leaving rough imports in a deficit of $446 million, but it was much improved from a deficit of $1.17 billion one year ago. Belgium’s net diamond account for the January through October period fell into a deficit of $40 million whereas it held a polished export surplus of $1.69 billion for the same period in 2010.

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