Belgium Decreasing Trade in Rough in March

A sharp fall in Belgium's rough diamond trade was noted in March. The country exported 13,238,024 carats of rough worth $1.026 billion, a 26.24 percent decline in volume and 10 percent decline in value over March 2007. This is a reversal of the trend seen the month before, when rough diamond exports by Belgium surged 20.11 percent by value in February.

In January, exports declined 10.08 percent in volume but increased 6.86 percent in value compared to January 2007.

Belgium's net March polished diamond trade ended with an overhang of $57.65 million worth of goods. The center imported $1.12 billion worth of goods while exporting only $1.062 billion in polished diamonds.

Antwerp traders noted to IDEX Online that currently it is cheaper to buy certain goods in New York, which could explain why imports were greater then exports.

In terms of volume, Belgium exported 804,598 carats while importing 864,486 carats, leaving the center with a surplus of 59,888 carats.

Exports of 92,693.51 carats to the U.S. were worth $261.38 million. No data on imports from the U.S. was provided by the Antwerp World Diamond Centre which publishes Belgium's diamond trade data.