A report on the Belgian diamond industry revealed that in the month of March, although the country's exports of polished diamonds were significantly lower in volume than during the same month the previous year, those diamonds were sold at a higher price on average, translating into greater year-on-year revenue for the sector, according to a report in Russian diamond industry news site Rough & Polished.
The Antwerp World Diamond Center reported that while Belgium exported about 653,000 carats of polished diamonds in March, a drop in 33% from 2011, those diamonds fetched an average of $2113 per carat, 57% more than the March 2011 average price per carat. As a result, the Belgian diamond industry netted a total of $1.38 billion in March 2012, 6% more than it earned in March 2011.
The report stated that in the first quarter of 2012, Belgium's polished diamond exports to Switzerland grew by 38% to $498 million, while exports to Hong Kong fell by 5% to $747 million. During the same period, Belgium's polished exports to the United States increased by 6% to $918 million, Rough and Polished reported.