Polished Exports from Israel Up 47% in June

Net polished diamond exports from Israel totaled $481 million in June, up 47 percent from $327 million in exports during June 2003. The great upwards leap brought Israeli polished exports to $3.29 billion during the firs half of the year, an increase of 24 percent compared to the first half of 2003 with $2.656 billion.

Diamond Controller Udi Sheintal called the news “encouraging”, saying today that it indicates stability and growth in most of the world markets, mostly the traditional ones.

Compared to the first six months of 2003, a 17 percent growth in exports were noted to the US market, 52 percent growth to Hong Kong, a 19 percent increase to Belgium, 52 percent to the UK and a more modest increase in exports of 5 percent to Japan.

Overall, 66 percent of exports of polished in June were to the US, 13 percent to Hong Kong, 7 percent to Belgium, and 2 percent of polished diamond exports were shipped to Japan.

Net polished diamond imports into the country also rose in June, totaling $294 million compared to $263 million in June of last year, a 12 percent increase.