20% Rise in Polished Diamond Exports from Israel
March 02, 04
Net polished diamond exports from Israel saw a sharp rise last month totaling $603 million compared to $503 million exports in February 2003, leaping nearly 20 percent.
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The rise in kicked off a 15.6 percent rise in polished exports so far this year - since January 1st Israel exported $1.184 billion worth of polished diamonds.
Polished diamond imports also rose sharply in February to $274 million compared to $242 million, a 13 percent increase.
Diamond Controller, Udi Sheintal is encouraged by the rise, saying the encouraging first two months of the year could possibly lead to a breakthrough for the diamond industry in Israel and the world.
The USA continues as always to be the main destination for Israeli diamond exports with a 64 percent share of the goods, followed by Hong Kong with a 14 percent share and Belgium with a 7 percent share of Israeli polished diamond exports.
Imports and exports of rough diamonds grew dramatically in February, well over 50 percent in both cases. Rough exports worth $284 million were a 57 percent increase over $181 million during February 2003.
Rough imports totaled $490 million, a 58 percent rise on $310 million worth of rough imported last February, brining a 56 percent rise in year to date imports.
In a statement today (Tuesday) the Minister of Trade and Industry Ehud Olmert said the Ministry is making a great effort to open new channels for supplying rough diamonds to the Israeli industry.