Belgium's Rough Trade Slumps to 2009 Levels

RAPAPORT... Belgium's rough-diamond trade fell to its lowest level since the financial crisis in the first half of 2019.  Rough imports to the country declined 26% year on year to $4.36 billion during the period, according to recent data from the Antwerp World Diamond Centre (AWDC). The last time inbound shipments were below that level was when the trade was recovering from the financial crisis in the second half of 2009, Rapaport records show. Exports from the industry's largest rough trading hub also hit a decade-long low. The data reflects a slump in global rough demand, as reported by the major diamond mining companies. De Beers rough sales fell 18% to $2.38 billion in the first half, while Alrosa's dropped 25% to $4.16 billion, according to Rapaport estimates.  Belgium's rough trade showed similar declines in June, while polished-diamond exports dropped 20% during the month, the AWDC reported. 

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