Belgium’s polished diamond exports up 51% in May

In May 2011, polished diamond exports from Belgium saw a roust increase in both value and volume. In value terms it increased 51 percent to $1.39 billion (y-o-y) and volume-wise by 33 percent to 839,372.40 carats. The average price of exports rose 13 percent (y-o-y) to $1,657.44 per carat. Imports of polished diamonds rose by a whooping 64 percent to $1.2 billion. The average price was up 11 percent to $1,323.96 per carat. The country’s net polished exports rose 2 percent to $189.6 million.

Belgium’s polished exports to India in May rose the maximum – 102 percent to $114.7 million, to Israel by 95 percent to $182.2 million, to Hong Kong by 88 percent to $167 million, to Switzerland by 88 percent to $116.3 million and to U.S. by 31 percent to $505.7 million.

Rough diamond imports doubled from May 2010 to value $1.41 billion and rough dimaond exports were up 72 percent to $1.47 billion. The average prices of both exports and imports increasing 87 percent (y-o-y), and the net rough imports was better by 56 percent to a deficit of $66.2 million.

The country’s May net diamond account (total exports of polished and rough less total imports) dropped 24 percent to $255.8 million.