28 Sep 2020
DiamondWorld Directory
Home |
News
Home
Financial crisis continues to threaten Antwerp diamond industry
2019 was a difficult year for the diamond trade in general, and for the Antwerp-based industry in particular, according to annual results released by the Antwerp world Diamond Centre (AWDC)
By: Diamond World News Service
|
Jan 17 2020 8:27AM
|
Reference: 24697  

DecreaseIncrease

Antwerp traded a total of €33 billion in cut and uncut diamonds in 2019, 20% less than in 2018, and a figure reminiscent of the levels last seen in the financial crisis years of 2009-2010. The AWDC says it foresees no improvement this year, but recovery should be expected in 2021.

Antwerp is not alone. The entire sector, from producers to cutters to traders and all the way out to retain jewellers, have experienced a difficult year. “Geopolitical instability gives rise to economic unrest, which depresses consumer confidence,” summed up Ari Epstein, CEO of the AWDC.

The sector is also sitting on an over-supply compared to demand. The ongoing trade conflict between the United States and China is one cause; political unrest in Hong Kong, the world’s most important market for cut diamonds, is another.

Trading in uncut diamonds is also hampered by the fact that canny traders prefer to offload their stocks in times of low demand, selling rather than buying. And here Antwerp suffered most. The city is the world centre for the trade in uncut stones, but 2019 saw sales of 184 million carats of stones, for a value of €15.4 billion – no less than 26% down on the 2018 figure.

The trade in cut diamonds, on the other hand, dropped by 13% to a total of 9.2 million carats for a value of €18 billion.

Source: The Brussels Times

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Advertisement
HouseAd_Trade Fair
Search News by City
Advertisement
Kosher 23460
Advertisement
HouseAd_Trade Fair
Recent Issue
2020
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 27319
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 1979
GJEPC Chairman Interview
Views: 24298
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 31638
Promo for IJ Awards 2012 at NDTV Profit
Views: 45950
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 58144
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 18621
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 44621
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 42820
Advertisement
Finestar Diamonds
Advertisement
Kosher 250300
Member of:
Supporter of: