Israeli Polished Exports Grows 24% in Value

Israeli exports of polished diamonds in September grew 24.1 percent in value to $704.05 million, continuing to outpace the growth in volume – 16.2 percent to 466,350 carats. Israeli exporters brush off the increase in value, saying it reflects more than anything increased polished diamond prices.

An echo to this sentiment is found in year to date figures. While January – September exports increased 6.6 percent to $5,199,663,483, the total weight of exported diamonds fell 3.6 percent to 3,460,155 carats.

In the eyes of some this is an indication that the Israeli center is in a bad state and once polished prices start to fall the center will take a beating.

This trend is also seen in imports of polished diamonds during the same period: increasing 12.1 percent to $2,786,062,088 while decreasing 9.3 percent to 2,711,856 carats.

Imports of polished in September grew 18.6 percent in value to $354 million, again outpacing the growth in volume – 5.5 percent to 329,531 carats.

The U.S., Hong Kong and Belgium were the leading destinations of exports. Exports to Hong Kong no doubt helped by the hopes for a good show. Exports to the American market totaled $375,635,827.