Strong end-of-year results ahead
A
significant increase Exports
of
polished
diamonds in India and Belgium
World
Federation of Diamond Bourses (WFDB) President Ernie Blom says the diamond and
jewelry industries appear to be heading for a strong end of the year according
to import and export figures and other reports in recent weeks.
India
recently reported a 19-percent rise in exports in October in its latest
results, while Belgium posted a 17-percent increase. Meanwhile, US retail
industry research groups are predicting a rise in holiday season sales of
around 5 percent.
"The
figures are looking upbeat," said Blom. "Exports of polished diamonds
showed a significant increase in two of the most important centers – India and
Belgium.
Meanwhile, forecasts for the holiday season in the United States are
very promising as a result of the strength of the US economy. And we saw
record-breaking figures for consumer purchases on Black Friday and Cyber Monday
last month.
"In
addition, in Hong Kong, sales of jewelry and other luxury goods came back
strongly after the decline in September caused by Typhoon Mangkhut.
And just
this week we saw a report on a survey carried out last month by the Diamond
Producers Association according to which more than 53 million US consumers
intend to buy a diamond during the extended festive period from Thanksgiving to
Valentine’s Day. These figures can give us great confidence as we end 2018 and
approach the New Year.
"Of
course, not all the indicators are heading upwards and the global geopolitical
situation can always surprise to the downside. But, all in all, I believe the
overall situation is looking good. We can expect to see good sales results and
strong restocking in the coming weeks," he concluded.
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