Israeli diamond industry increase

The Israeli diamond industry has continued its growth through the third quarter of 2011, according to figures published by the Israel Ministry of Industry, Trade and Labor’s Diamond Controller Shmuel Mordechai.

The figures show double-digit growth in exports and imports of both polished and rough diamonds. Israel’s net export of polished diamonds from January through September 2011 totalled $5.83 billion (£3.74 billion), a rise of 37.1 per cent over the same period last year. Net rough diamond exports stood at $2.98 billion (£1.91 billion), a rise of 31.8 per cent.

Israel’s net imports of polished diamonds jumped 48.8 per cent to $4.17 billion (£2.67 billion) in the first three quarters of 2011. Net rough diamond imports totalled $3.52 billion (£2.26 billion), an increase of 35 per cent over the same period last year.

The United States remained Israel’s largest market consuming polished diamond exports of $2.13 billion (£1.37 billion) or 37 per cent of total exports. Hong Kong accounted for $1.71 billion (£1.10 billion) or 29 per cent, Belgium $471 million (£301.86 million) or eight per cent, Switzerland $338 million (£216.62 million) or six per cent, Thailand $114 million (£73.6 million) or two per cent and the rest of the world $1.07 billion (£0.69 billion) or 18 per cent.