Antwerp diamond sector’s October figures drop slightly due to holiday season

Antwerp, 12 November, 2014 - The Antwerp diamond sector’s trade figures in October decreased slightly compared to the same month last year. Figures show that slightly fewer polished diamonds were traded, but the value of diamonds traded was higher compared to the value of polished diamonds traded in October last year. Rough diamond trade figures also show a decline compared to October 2013, but the first ten months of the year as a whole do show an increase.

The drop in trade figures for October compared to the same month in 2013, was to be expected. Both the Jewish holidays of Sukkot and Simchat Torah and the Indian festival Diwali took place in October this year, as opposed to last year’s celebrations in September and November, respectively.

Imports of rough diamonds dropped by 13.16% and exports by 19.33%. A decline was also visible in value, amounting to a dip by 0.92% and 16.01%, respectively. Compared to October of last year, fewer rough diamonds were traded on the Antwerp market, but the stones traded were higher in value. A comparison of the first ten months of 2014 and the same period in 2013 shows that both rough import and export figures have increased in terms of volume as well as value. In general, the rough diamond market is faring better than last year.

The polished diamond trade was also influenced by the timing of the holidays, showing a downturn in the volume of goods traded. Both import and export figures of polished diamonds decreased by 20.11% and 10.79% respectively. As was the case for rough diamonds, the decline in value for polished stones was smaller, indicating that the traded goods were more expensive. Compared to the first ten months of 2013, fewer polished diamonds were traded on the Antwerp market in the first ten months of this year, but the stones traded were more costly. In value terms, imports rose by 4.76% and exports by 5.16% compared to the first ten months of 2013. The majority of imported goods originated from India, Hong Kong and the United Arab Emirates. Polished diamonds were mainly exported to Hong Kong, the United States and the United Arab Emirates.

To consult the trade figures please refer to our website.