Belgium Sees Rise in Polished Exports

RAPAPORT... Belgium's polished-diamond exports rose in May, according todata from the Antwerp World Diamond Centre (AWDC). Polished exports increased 5% year on year to $1.18 billionand, by volume, grew 4% to 439,380 carats. The average price climbed 1% to$2,688 per carat. The jump was mainly due to a 6% rise in shipments to the USto $438.8 million and a 22% surge in exports to India to $58.6 million. Exportsto Switzerland more than doubled in May, reaching $186.1 million. Thoseincreases outweighed a 46% plunge in exports to the United Arab Emirates to$46.1 million and a 17% drop in shipments to Hong Kong to $130 million. Polished imports fell 1% to $995.8 million, while netpolished exports - the excess of exports over imports - surged 53% to $185.3million. Rough imports dropped 14% to $905.2 million, with roughexports falling 5% to $1.18 billion. Net rough imports stood at negative $278.9million versus negative $188 million a year ago. The country's net diamond account - the sum of rough andpolished exports minus total imports - rose 50% to $464.2 million. In the first five months of the year, polished exports rose1% to $5.09 billion, while rough imports climbed 8% to $5.02 billion. Image: AWDC