Belgium Sees Downturn in Polished Shipments

RAPAPORT... Belgium's polished-diamond exports dropped in March,according to data from the Antwerp World Diamond Centre (AWDC). Polished exports decreased 7% year on year to $1.09 billionand, by volume, fell 13% to 423,764 carats. The average price grew 7% to $2,570per carat. Polished shipments to Switzerland - which hosted the Baselworld show thatmonth - slid 36% to $270.6 million, and exports to the United ArabEmirates declined 41% to $55.4 million. Those decreases outweighed a 48% jumpin exports to Hong Kong to $140 million, while shipments to the US rose 29% to$319.3 million. Polished imports saw a 1% increase to $1.49 billion, whilenet polished exports - the excess of exports over imports - stood at negative$400 million, compared with negative $309.6 million a year ago. Rough imports climbed 10% to $1.17 billion, with roughexports soaring 30% to $1.48 billion. Net rough imports were negative $316.4million versus negative $86.2 million last year. The country's net diamond account - the sum of rough andpolished exports minus total imports - came to negative $83.6 million inMarch compared with negative $223.4 million the previous year. In the first quarter, polished exports grew 1% to $3.18 billion, while rough imports went up 7% to $3.12billion.Image: Lesley Cheung