Feb. ‘09: Israel number 1 in Suppliyng Polished Diamonds

During February Israel exported the highest volume of diamonds in the world with a net worth of $119.6 million
 
During February 2009, Israel became the world's leading supplier of polished diamonds. Despite declines in global polished diamond trade, during February Israel exported the highest volume of diamonds in the world with a net worth of $119.6 million. Israel was followed by India, ($106.4m), Belgium ($74.1m) and South Africa ($65.2m) in polished diamond trade.
 
The United States imported a total of 644,721 carats in polished diamonds, worth $774m, with an average value of $1,200.57 per carat.
 
Although the export statistics for Israel are positive, the drop in comparison to last year’s figures indicates a significant slowdown, particularly in comparison to the US. Import statistics for the US in February 2009 constitute a 45.6% decline in volume and 53% in value in comparison to the comparable month during the previous year.
 
In the fourth quarter of 2008, the Israeli diamond industry shrank by 60% compared to the same period the year before, and diamond prices have been falling steadily. March 2009 seems to have been slightly better, and in the industry there are hopes for a slow, gradual improvement.