Brussels: Europe and the Arabs
The total import and export figures of the Belgian diamond industry have fallen sharply for the second year in a row. This was announced by the World Diamond Organization (Antwerp World Diamond Center) on Saturday. The sector has asked for "strong support" from the federal government. According to Belgian media, citing the Belgian news agency, Antwerp, 23.7 billion euros worth of diamonds were sold in 2024 - 25 percent less than the previous year. Sales in 2023 are also down 20 percent compared to 2022.
"The sector is going through a deep crisis worldwide," says CEO Karen Rentmeesters. "The weakness of consumer markets (in China and the United States, ed.) and competition from industrial diamonds are causing demand to fall to historic levels, causing prices to fall to all-time lows."
The impact on Antwerp as an important diamond center seems logical. Almost a year ago, the richest industrialized countries (G7) decided to ban Russian diamonds permanently. The Antwerp Diamond Commission then began working with Prime Minister Alexander De Croo to secure Antwerp’s future as a diamond hub. However, sanctions against Russia continue to have a negative impact on the Belgian diamond industry.

That is why the AWDC is requesting additional support from the Belgian government. Concretely, the AWDC wants to provide better support to international diamond players in our country. This includes the ability to open bank accounts smoothly, issue visas efficiently for business people in the sector, and speed up the flow of diamonds through customs.

The Antwerp World Diamond Centre (AWDC) is a public/private institution that officially represents and coordinates the diamond sector in Antwerp. It is located in the heart of Antwerp. Its CEO is Arie Epstein. The Diamond Office facilitates the import and export of diamonds to and from Antwerp. This is done primarily through marketing campaigns, services, conferences, trade fairs, economic missions and various other means.

The World Diamond Centre is home to all major diamond mining companies, which discover diamonds for more than 1,800 individual diamond traders worldwide. Other groups that help develop, protect and process these diamonds include diamond banks, insurance brokers, shipping agents, top diamond miners and researchers. It is recognized as the diamond capital of the world. About 84% of the world’s rough diamonds pass through the region, making it the world’s largest diamond region with a turnover of $54 billion. Each year, about 50% of the rough diamonds return to Antwerp for cutting and polishing.