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Belgium diamond sale drops to decade low



According to the Antwerp World Diamond Centre (AWDC), Belgium’s rough and polished diamonds sale saw US$37 billion in 2019, a 20 percent reduction from the US$46 billion traded last year and fell to its lowest point since the global financial crisis of 2009 to 2010.


“Manufacturers and traders are mainly trying to reduce their stocks before they transition to purchasing new rough diamonds,” explained AWDC CEO Ari Epstein. “Geopolitical instability gives rise to economic unrest, which depresses consumer confidence,” he added. The ongoing trade tension between the United States and China and social unrest in Hong Kong are also causing.


rough diamond exports took the greatest hit this year, represented a 14 percent decline in volume and a 26 percent fall in value compared to 2018. Polished trade volume dropped 13 percent. However, the average price per carat of polished diamond traded at US$2,176 per carat matched the record price set. Still, AWDC foresees recovery in 2021.

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