Antwerp still biggest hub for diamond trading

Antwerp still biggest hub for diamond trading

Antwerp remains the largest diamond trading hub in the world, according to figures recently published by the Kimberley Process Certification Scheme, a body which monitors world production and distribution of this precious mineral. In 2014, a staggering 234.7 million carats of diamonds passed through the Anvers hub, 44 million more than India.

Imports to Antwerp reached 118.7 million carats and exports 116 million. India imported substantially more (153.6 millions) but exports were much lower (36.5 million carats).

India’s imports are particularly high because it is the world leader in diamond processing. In terms of value, Antwerp importations totalled 16 billion USD to India’s 17.2 billion.

Dubai and Israel, AWDC’s main competitors (AWDC - Antwerp World Diamond Center), imported diamonds to the value of only about a third of Antwerp’s figures, although Israeli diamonds are worth substantially more than those passing through Antwerp (333.11 USD/carat compared to 133.08USD).

The diamond export trade amounted to 15.7 billion dollars for Antwerp, 8.3 billion for Dubai and 3.9 billion for Israel. The AWDC is quick to point out, however, that the profit margins enjoyed by Antwerp’s diamond traders, currently around the 1% mark, are under pressure.

(Source: Belga)  

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