Israel’s Polished Exports Rise 9.5% to $805 Million in November

Israel’s exports of polished diamonds in November totaled $805 million, rising 9.5 percent from November 2006 when exports totaled $735 million. In the 11-month period, Israel exported $6.745 billion worth of polished, a 7.4 percent increase.

Net polished diamond exports in the January-November period of 2006 reached $6.282 billion, according to the ministry of industry, trade and labor. The ministry did not release November’s carat figures at publication time.

The value of exports to the U.S. so far this year declined 6 percent, yet it remained by far the leading destination (55 percent) of net polished diamond exports.

Exports to Switzerland grew 42 percent compared to last year, representing 5 percent of total exports. Exports to the UK grew 34 percent and, to Hong Kong, 31 percent.

Hong Kong was Israel’s second leading destination with 8 percent of polished exports this year.

Polished diamond imports also rose, growing 12.9 percent in the 11-month period to $3.962 billion.