A 55% Drop in the Value of Israel’s Polished Diamond Exports

Net polished diamond exports from Israel nose dived in August, sinking 55 percent to just $207 million. August, a traditionally quiet month of business, saw exceptionally low trade levels this year.

The export figures may be explained by large shipments of goods returning from the IIJS trade show in India earlier in the month. However, this can be the case only if goods were sent to the show in late July. IIJS opened on August 7, and traders likely sent their diamonds just a few days before, not more then a week in advance.

Israel exported $4.822 billion worth of polished in the January-August period, a meager 2.9 percent year-over-year increase.

Polished diamond imports in August were practically flat at $312 million - a 0.1 percent decrease compared to August 2007.