Another sign of the customer’s weariness regarding inflated diamonds prices, set by the cartel of the three biggest producers — De Beers, Alrosa and Rio Tinto, is decreasing volume of exported diamonds that leave Belgium — the world center for cutting and polishing the raw diamonds. The volume of export dropped 37% year on year and now makes up $741.5 million. The middle market of diamonds remain to be very weak with rough import decreasing 16%, according to the information from Antwerp World Diamond Centre.

Belgium’s usual role is a net exporter of cut and polished diamonds. The country is also a net exporter of raw diamonds. Antwerp is historically a place of high-value manufacturings, and the city acts as a facilitator of rough-diamond trading, as many companies from all over the world come to Antwerp to buy rough diamonds.

Net polished exports represent polished exports minus polished imports. The net diamond account is total rough and polished exports minus total imports. It is Antwerp’s diamond trade balance, showing the amount of the added value that country make by exporting rough stones or manufacturing it into polished.

Millions unless stated otherwise:

May 2019 — Year-on-year change

Polished exports: $1,181 — 0%;

Polished imports: $1,053 — 6%;

Net polished exports: $127.8 — -31%;

Rough imports: $760.9 — -16%;

Rough exports: $741.5 — -37%;

Net rough imports: $19.4 — 2018: Deficit of $278.9M;

Net diamond account: $108.4 —- 77%;

Polished exports, volume: 383,189 carats — -13%;

Average price of polished exports: $3,082/carat — 15%;

Jan-May 2019 — Year-on-year change

Polished exports: $5,077 — 0%;

Polished imports: $5,153 — 3%;

Net polished exports: -$76.1 — 2018: Surplus of $67.6M;

Rough imports: $3,680 — -27%

Rough exports: $4,176 — -27%;

Net rough imports: -$496.7 — Deficit decreased 32%;

Net diamond account: $420.6 — -48%;

Polished exports, volume: 1.9 million carats — -12%;

Average price of polished exports: $2,736/carat — 13%;

Data provided by Antwerp World Diamond Centre.

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