Israeli Jewelry Exports Flat

Israel exported $301 million worth of jewelry in the January – October period, the same as during the first ten months of 2005. While sales of diamond set gold jewelry slightly decreased, fashion jewelry continued its annual growth.

During the ten month period, gold jewelry exports decreased about 1 percent to $103 million from $104 million in 2005. Fashion jewelry exports leaped to $40 million from $27 million during the full year of 2005, and $19 million in 2004.

According to Sigal Shidlovsky, director of the jewelry division at the ministry of trade, industry, and labor, the war in August affected the local jewelry industry. Orders were cancelled or postponed for fear that deadlines would not be met, and many factories operating in areas hit by missiles lost many working days and suffered from workforce loss.

Fifty eight percent of the exports of diamond set jewelry went to the U.S. and 13 percent to the U.K. Gold jewelry set with semi-precious stones were exported mainly to Eastern Europe – 52 percent to Russia and 12 percent to Ukraine.