The world’s diamond centre
April 28, 2009
The city of diamonds
Antwerp, with 500.000 inhabitants the second largest city in Belgium.
The city is the undisputed diamond capital of the world. In the city’s diamond district there are no less than 2,500 seperate companies connected in various ways with diamonds. With an annual turnover of 23billion US dollars Antwerp still remains the most important diamond trade centre in the world.
In brief, more than 85% of the world’s rough diamonds, 50% of cut diamonds and 40% of industrial diamonds are traded in the city. Moreover the diamond sector accounts for 7% of Belgium’s total exports. Today’s stones are mined primarily in Africa, but Antwerp’s diamond industry claims to trade just clean and conflict-free diamonds.
The Jews play a special part in the diamond world in Antwerp. Owing to the dense traffic in the 16th century between Lisbon (the most important European harbour city at that time) and Antwerp, many Portugese Jews had settled in the city distributing diamonds. Furthermore the post-war revival of Antwerp’s diamond industry is due to the work of the Jewish community.
Nevertheless because of the worldwide economic crisis the diamond industry in the city is struggling and facing a downturn in business at the moment.
