Antwerp’s diamond trade sees better days in 2016, up 5% in volume

Antwerp’s total exports and imports of rough and polished diamonds amounted to 202 million carats and a value of 48 billion USD in 2016. This was a 5 percent increase in the volume of diamonds traded in 2015. For while the overall declining trend on the polished diamond market was confirmed, the Antwerp diamond trade reinforced its position on the rough diamond market.

Polished diamond exports and imports dipped in 2016, with 11.4 million carats valued at 23.2 billion USD being traded. Imports of polished diamonds were worth 11.4 billion USD or of six million carats, a 7 percent drop in volume and 10 percent drop in value. Exports of polished diamonds dipped 9 percent in volume and 10 percent with 5.4 million carats with a value of 11.8 billion USD being exported.

AWDC noted that this downward trend of polished diamonds is a consistent phenomenon across the international diamond trade and the demonetization in India caused an immediate impact on trade with India, although the slow economic growth in the BRIC countries is the core of such a trend.

The rough trade was on the other hand better, with 190.8 million carats of rough diamonds with a value of 24.8 billion USD being traded in 2016. Rough diamond imports to Antwerp stood at 90 million carats (7 percent rise) for a value of 12.1 billion USD (9 percent increase), and the said exports totalled 110.8 million carats (5 percent increase) valued at 12.7 billion USD (11 percent increase). This represents a 7% increase in volume and a 9% increase in the value of rough imports.

Ari Epstein, CEO of AWDC: “2016 was a good year, but the future is looking very good. 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 7 million carats onto the market in 2017. Antwerp’s prospects are promising indeed.”

Antwerp’s diamond trade has strengthened its position on the rough diamond market propelled by the various efforts of the AWDC.