August - Polished diamond exports up 15% to $448m

Figures published last week by the Ministry of Industry, Trade, and Labor show that net exports of polished diamonds (after deducting returns) rose from $390 million in August 2004 to $448 million in August 2005, a 15% increase.
 
The figures indicate that in January-August 2005 Net diamond exports rose, compared to last year, by 4% from $4.31 billion in January-August 2004 to $4.49 billion in January-August 2005.
 
Net exports of rough diamonds in August 2005 rose by 24% from $248 million in August 2004 to $307 million.
 
However, net imports of rough diamonds fell 29% from $482 million in August 2004 to $342 million in August 2005.
 
Net imports of polished diamonds declined 25% from $303 million in August 2004 to $228 million in August 2005.
 
Shmuel Mordechai controller of diamonds at the Ministry of Industry, Trade and Labor said in a press release that “The rising trend in polished diamond exports continued during August. The rise is indicating good sales of Israeli polished diamonds.”
 
Israel’s five main diamond export markets were the US, Hong Kong, Belgium, Switzerland and Japan. 61% of Israel’s net polished diamond exports were to the US, 16% to Hong Kong, 8% to Belgium, 6% to Switzerland, and 2% to Japan.
 
Net exports of polished diamonds to the US market fell in January-August by 2%. Net exports to Hong Kong rose 17%, exports to Belgium 3%, 90% to Switzerland, and 8% to Japan.