Antwerp's Trade Slows in 2017

RAPAPORT... Belgium's diamond trade declined last year, with the nationseeing a drop in shipments of both polished and rough stones.  Polished exports fell 3.4% to $11.4 billion for the year,the Antwerp World Diamond Centre (AWDC) said Monday. By volume, exports slid 8% to 5 million carats, while the average price climbed 4.6% to$2,276 per carat. Net polished exports - representing exports minus imports -slumped 34% to $269.2 million. "While demand for polished diamonds worldwide was underpressure...we note that demand from the most important markets, namely China andthe US, gradually recovered," the AWDC said. "Consequently, the polished-diamondmarket continues to experience difficulties, but the decline is less pronouncedthan last year." While rough imports dropped 11% to $10.73 billion, they jumped 6% in volume terms to 95.3million carats, reflecting a 16% slide in the average price to $113 per carat.Demand for smaller, cheaper rough stones grew last year, resulting in a declinein the average price across the global market, the organization explained. Rough exports slipped 0.9% to $12.61 billion, while netrough imports - referring to imports minus exports - stood at negative $1.88billion, versus negative $638.4 million a year ago. The country's net diamond account, representing totalexports minus total imports, more than doubled to $2.15 billion, from $1.05billion a year ago. Image: Tyler Allen