Polished Diamond Exports from Israel Rise 21% in August

Israel’s net polished exports in August totaled $403 million, a 21 percent rise over $332 million in exports in August 2003, while dropping in weight nearly 15 percent. Polished diamond imports rose dramatically, totaling $305 million, compared with $239 million a year earlier, a 28 percent rise.

While polished exports continued rising in value, the country exported 269,366 carats of goods, down 14.8 percent from 316,287 carats last August, pushing up per carat price to $1,500 p/c from $1,050 p/c.

Polished exports from the Israeli center since the start of the year reached $4.33 billion up 21 percent from $3.57 billion in January-August last year.

Polished diamond imports leaped to $305 million, compared with $239 million a year earlier, a 28 percent rise. In terms of weight, imports rose to 336,541 carats from 284,723 carats, an 18.2 percent rise

Diamond Controller Shmuel Mordechai, says the latest figures are encouraging and indicate stability in the major global markets.

He added that exports to the main markets are growing, pointing out a 19 percent growth in exports to the U.S., 47 percent growth in exports to Hong Kong, 17 percent to Belgium, 47 percent to the U.K. and a more modest growth in exports to Switzerland of 3 percent.

According to figures released this morning by the Ministry of Industry, Trade, and Employment, the lion’s share of polished exports in August - 71 percent of the total - went to the U.S.

Meanwhile, 12 percent of polished diamond exports were shipped to Hong Kong, Belgium accounted for 8 percent and the U.K. and Switzerland for 2 percent each.