Polished Exports from Israel Up 6.3%

Net polished diamond exports from Israel in June totaled $323 million, compared to $304 million during June 2002, a 6.3 percent increase. Total exports from the country from January stands at $2.6 billion, same as during the same period last year.

Israeli polished diamond exports to some markets saw great growth since the start of the year while to other countries exports suffered a certain decline, most notably to the Far East. Exports to Switzerland rose by 28 percent, to Belgium exports increased by 20 percent and to the US exports increased by a more modest 4 percent. Exports to Japan dropped 27 percent and to Hong Kong by 6 percent since the start of the year.

As always, the US was the main destination of Israeli polished exports with 69 percent of total exports, 10 percent of exports were sent to Hong Kong and 8 percent went to Belgium.

Polished diamond imports during the January to June period jumped dramatically by 50 percent to $1.505 billion compared to $1.002 billion during the comparable period last year.

Diamond Controller Udi Sheintal hopes that the increased exports trend that started in June will continue in the coming months.

Rough diamond imports during the January to June period totaled $1.753 billion compared to $2 billion during the same period last year, a 12.5 percent decrease.

Diamond set jewelry exports from Israel during the January – May period totaled about $37 million, the same as during the comparable period last year. Total gold and silver jewelry exports totaled 118 million, a 19 percent decline compared to last year.