Israel's Diamond Exports Boom
Source: Commodity Online (4/11/11)
"Israel Ministry of Industry, Trade and Labor's figures show double-digit growth in exports and imports of both polished and rough diamonds."
Net polished diamond exports for the period climbed 45.7% to reach $2.1billion compared to $1.4 billion from January to March 2010. Net rough diamond exports increased 39.6% to $1.2 billion, compared to $829 million in the first quarter of 2010.
Net import of polished diamonds from January to March 2011 rose 24.9% to $1.1 billion, compared to $916 million in the same period last year. Net rough diamond imports rose 48.5% to $1.2 billion, compared to $831million in the first quarter of 2010.
The United States remained Israel's largest market with 45% of total exports. Hong Kong accounted for 26%, Switzerland 9%, Belgium 8%, China 2% and the rest of the world 10%. Net polished exports to the U.S. were $694 million, to Hong Kong $506 million, to Switzerland $351 million, to Belgium $190 million and to China $63 million.