Belgium: Diamond Market 2024

Diamond Market Size in Belgium

In 2022, the Belgian diamond market decreased by X% to $X, falling for the third year in a row after two years of growth. Overall, consumption recorded a abrupt slump. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Diamond Production in Belgium

In value terms, diamond production dropped to $X in 2022 estimated in export price. In general, production, however, recorded a pronounced downturn. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Diamond production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Diamond Exports

Exports from Belgium

After three years of growth, overseas shipments of diamonds and other precious stones (unworked) decreased by X% to X tons in 2022. In general, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then declined in the following year.

In value terms, diamond exports dropped to $X in 2022. Overall, exports saw a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

India (X tons) was the main destination for diamond exports from Belgium, with a X% share of total exports. Moreover, diamond exports to India exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to India stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Hong Kong SAR (X% per year).

In value terms, India ($X) remains the key foreign market for diamonds and other precious stones (unworked) exports from Belgium, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the average diamond export price amounted to $X per kg, which is down by X% against the previous year. Overall, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. The export price peaked at $X per kg in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per kg), while the average price for exports to India ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.

Diamond Imports

Imports into Belgium

In 2022, diamond imports into Belgium shrank notably to X tons, waning by X% on 2021 figures. Overall, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, diamond imports expanded notably to $X in 2022. Over the period under review, imports recorded a perceptible slump. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), Botswana (X tons) and Angola (X tons) were the main suppliers of diamond imports to Belgium, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Botswana (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest diamond suppliers to Belgium were the United Arab Emirates ($X), Canada ($X) and Russia ($X), together comprising X% of total imports. Botswana, Angola, South Africa, Brazil and the UK lagged somewhat behind, together comprising a further X%.

Brazil, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average diamond import price stood at $X per kg in 2022, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per kg in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Canada ($X per kg), while the price for the UK ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Afghanistan (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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