Antwerp’s diamond trade up 4.5% in February

Antwerp’s diamond trade in February 2016 indicated the first signs of recovery after a difficult 2015 for the entire global diamond trade including Antwerp. The poor economic conditions had caused diamond demand to slow worldwide.

But now in February, the diamond trade is improving. Diamonds worth a total of $5.1billion were imported to and exported from Antwerp, based on the trade of 25 million carats of rough and polished diamonds, in February 2016. This is an upswing of 38 percent in volume terms and 4.5 percent in value terms, on y-o-y basis. Last year, a total of 18.3 million carats of diamonds were traded, representing an overall value of $4.8 million in February.

The February 2016 figures in comparison to this past January, indicated that the rough diamond trade experienced a noteworthy turnaround. Imports of rough diamonds in February increased 82 percent in value to $1.3 billion and 106 percent in volume to 12 million carats. Russia continued to be the most significant supplier of rough diamonds, contributing to 33 percent of rough diamond imports in volume terms (4.25 million carats) and 36 percent in value terms ( $435 million).

Although February depicted an improved trading sentiment, yet AWDC notes that it may be too early to assert that the global diamond trade has found some breathing space again.