Israel’s February Diamond Trade Sinks 76%
March 24, 09
Israel’s diamond trade is continuing to suffer from the effects of the economic meltdown. The country’s diamond trade fell sharply in February as demand for diamonds - rough and polished - was minimal at best.
Net polished diamond exports fell 61.8 percent to $309.2 million compared to $808.5 million exported in February 2008, according to the Central Bureau of Statistics (CBS). Gross polished diamond exports, exports before returns, was only $606.6 million, down from $1.46 billion the year before.
Net rough diamond exports in February was $80.9 million, tumbling 76.3 percent from the $341.5 million exported the year before. Gross exports fell 78.2 percent to $85.9 million.
Net rough and polished diamond imports totaled $203.3 million in February, sinking 76.4 percent from the $859.5 million in goods imported the year before.
The CBS did not separate rough and polished import data or supply data on the volume of exports.