Israel’s H1 Gold, Diamond Jewelry Exports Shrink
July 19, 05![](/image_bank/NewsRoom_FullArticle/LogoBlue.png)
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Of the diamond jewelry exports, 57 percent were destined for the U.S, 11 percent to the
Sigal Shidlovsky, Director of the Jewelry Division at the Ministry of Industry, Trade and Labor, says that based on export trends of the past few years she expects the tide to change near the end of this year.
Conversely, fashion jewelry exports jumped 35.5 percent to $14.5 million compared with $10.7 million last year, and silver jewelry exports rose 44.83 percent to $8.4 million.
According to Shidlovsky, who compiled the data, fashion jewelry exports have been constantly growing in the past few years, noting a home industry trend of one or two people who create the components manually and then sell the finished items during the weekend at mall stands. This cottage industry is doing so well it’s expanding into exports, she says.
The majority of these exports are shipped to the U.S. – 60 percent. Other destinations are the U.K. and Japan – 6 percent each, and Spain and France – 5 percent each.