Export of polished diamonds since January down 18.9%

The US is the largest market for exports of Israeli diamonds
 
The Israel Ministry of Industry, Trade and Labor’s Diamond Controller Shmuel Mordechai reported last week that the net value of polished exported diamonds from Israel in the first half of 2012 was US$3.264 billion, compared to US$4.026 billion in the corresponding period last year, a drop of 18.9%.
 
The net value of uncut-diamond exports dropped almost a third, from US$2.264 billion to US$1.516 billion. The value of imported rough diamonds went down 19.3% while the value of imported polished diamonds decreased 21.7%.
 
Mordechai attributed the declines to the world economy in general and an internal crisis in the diamond industry, as witnessed at shows in the United States and Hong Kong. The U.S. remained the largest market with a 47% share, so far this year, Hong Kong at 29%, followed by Belgium, Switzerland and the United Kingdom, with 7%, 6% and 2%, respectively.