Israeli Rough Diamond Exports, Imports Soar in August

Israeli rough diamond exports and imports rose sharply in August, climbing 41 percent and 35 percent respectively, underlying the strong demand for rough ahead of the holiday season.

August proved hot in Israel not just for beachgoers and vacationing Israelis, but also for the country’s diamond manufacturers and traders.

According to initial figures released this morning (Tuesday) by the Ministry of Industry, Trade and Labor, rough diamond net exports leaped 41 percent to $248 million from $176 million in August 2003.

Carat-wise the rise was much more significant, climbing 78.8 percent to 1,918,909 carats from 1,072,966 carats last August, bringing per carat prices down to $129.50, from $164.50.

Net rough diamond imports stood at $482 million in August, up 35 percent compared to $356 million imports during the same month last year.

From the perspective of the weight of the goods, the rise was not as significant, climbing “only” 14 percent to 1,973,809 carats from 1,733,414 carats last August. Per carat prices stood at $244, up more than 18 percent from $205.50.

Israeli rough diamond imports since January rose 38 percent in value, despite the reported difficulties by local manufacturers earlier this year in finding the goods and the more recent shortage.