Israeli Polished Diamond Exports Jump to $448 Million

Exports of polished diamonds from Israel increased 15 percent in August to $448 million, compared to $390 million last year. Since the start of the year Israeli net polished exports have registered a 4 percent increase to $4.489 billion.

Net polished diamond imports to the country totaled $228 million, a 25 percent drop compared to $303 million in imports during August 2004.

Exports to the U.S. during the first eight months of the year softened 2 percent, while exports to the four other main destinations increased: 17 percent growth in exports to Hong Kong, 3 percent growth in exports to Belgium, 90 percent growth in polished exports to Switzerland and an 8 percent rise in exports to Japan.

Diamond Controller Shmuel Mordechai said the results were encouraging, indicating stability in the main markets.