Antwerp is flourishing, thanks to expensive diamond prices

Exports at record level – Diamond prices increase with 30 to 40 percent! The Antwerp diamond sector peaks due to high diamond prices. Demand for diamonds from China en India continues to increase. Due to poor financial markets, investors start to invest in diamonds. Therefore diamond prices have increased 30 to 40 percent since the beginning of this year.

According to Caroline De Wolf, spokeswoman for the Antwerp World Diamond Centre (AWDC), Investors buy diamonds as an alternative investment. The best part of it is that they don’t have to put them in a safe, but that they can wear them in all kinds of jewelry. Of course the larger stones are stored in a safe.

Antwerp is worldwide the biggest diamond centre. Diamonds are imported to be polished, to be exported anew afterwards. According to AWDC, the export of rough diamonds alone was good for 6.5 billion euro (an increase of 44% in comparison with last year). On top of that, the export of polished diamonds was good for 5.6 billion euro (a third more). The import of rough diamonds represented an increase of 5.5 billion euro (50% more). The import of polished diamonds was good for 3.8 billion euro or an increase of 50%.

Mining

Good figures show that the Antwerp diamond industry is flourishing, partly thanks to the increasing sales in China and India. The rising middle class is crazy about diamonds, especially diamond engagement rings. The fact that it is a nice investment is a nice extra.

High diamond prices are not only a good for Antwerp diamond industry, but also for the diamond mining companies like De Beers and Alrosa. These companies could show remarkable growth figures over the last 6 months. The Russian miner Alrosa, whom released his figures yesterday, had an increase of 7 percent (meaning 1.5 billion euro).

Jewelers have excellent figures as well. U.S. jeweler Tiffany reported yesterday a sales increase of 25% (representing 1.1 billion euro) for the first half of this year. Diamondland, Antwerp’s largest retailer, confirms that 40% of the sales are to Chinese customers.

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