Israeli Polished Exports Up 12% On Year In 2013 To $6.22B
January 14, 14
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Exports of polished diamonds to the United States surged 14 percent to $2.32 billion last year. Meanwhile, polished exports to Hong Kong were 6 percent higher at $1.68 billion.
After those two countries, Switzerland imported $380 million of polished goods last year, while Belgium imported $451 million worth, and India $145 million.
The Israeli diamond trade imported 1 percent more polished diamonds last year than in 2012 at $4.3 billion, creating net polished exports in 2013 of $1.92 billion.
In rough diamonds, imports were 4 percent higher on the year in 2013 at $3.99 billion, and exports of rough increased by 5 percent to $2.94 billion.
Israel Diamond Institute (IDI) Chairman Moti Ganz said that he was gratified by the results of 2013 and expressed confidence that the Israeli diamond industry would continue to grow in 2014.
“The global diamond industry faced serious economic challenges in 2013 – high rough diamond prices, a slowdown in Asian markets and a reduction in credit. Despite that, the Israeli diamond industry was able to achieve significant growth through creativity and resourcefulness,” Ganz said. He added that he was pleased that the United States and some European markets were flourishing, and expressed optimism about the medium-term prospects of the Asian markets.
IDI Managing Director Eli Avidar said that the Israeli diamond industry had been very active in marketing in 2013, which made a significant contribution the export growth. He said that IDI was planning to expand these activities in the coming year.
Avidar mentioned that in addition to the successful international buying events held in 2013 in Ramat Gan and New York, the industry would hold several special rough events and would participate in new trade shows in selected markets. “We look forward to having an even better year in 2014,” Avidar said.
Shmuel Mordechai, Israel’s Diamond Controller, said, "The profitability in the diamond industry has suffered in recent years. If Sightholders and others profited in the past, nowadays they are not profiting. The percentage of profits has dropped, and it may be that some of the firms experienced losses. I believe that a significant amount of rough diamond importers and polished diamond manufacturers lost money, and I have no doubt that Sightholders were the big losers. This is a worrying development."