27% jump in polished diamond exports in November

Diamond controller Mr. Shmuel Mordechai said last week that Israel's diamond industry continued its trend toward significant growth in November. According to spokesman for the Ministry of Industry, Trade and Labor, net exports of polished diamonds from Israel in 2004 rose 27.2% to reach $661.8 million, compared to $520.4 million in November 2003.
 
Israel Diamond Institute (IDI) chairman Mr. Simcha Lustig said after the figures were released that "Demand for Israeli diamonds remains high in the US, as well as in the Far East. The European market has shown an encouraging rise as well. This coincides with IDI's plans to focus a marketing initiative on Europe in 2005. This is in addition to our ongoing efforts to increase our exports to North America and the Far East."
 
During the first eleven months of the year, net polished exports grew 16%, reaching $6.016 billion, compared to $5.184 billion in the same period in 2003.
 
Since the beginning of the year rough diamond imports rose 35.7% to reach $4.741 billion, compared to $3.494 billion for the same period in 2003.
 
For the first eleven months rough diamond exports increased 32.9% to $2.715 billion, up from $ 2.042 billion for the same period in 2003. Rough diamond exports from Israel rose 8.8% in November to reach $235.8 million, up from $216.7 million in November 2003.
 
Since the beginning of the year exports to the US rose 17%, to Hong Kong - 35%, Belgium - 22%, Switzerland - 12%, and England - 30%. The major export markets for Israel's polished diamonds in November were the United States with 67%, Hong Kong - 13%, Belgium - 7%, Switzerland - 3%, and England - 2%.