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."

The Israeli Diamond Industry's impressive recovery continues in the first quarter of 2011, according to figures published by the Israel Ministry of Industry, Trade and Labor's Diamond Controller Shmuel Mordechai. The 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.

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