Israel Polished Diamond Exports declined to US$2.6 billion

Exports to the US were down 60% to US$970.6 million, while to Hong Kong, exports fell 43% to US$757.2 million
 
Figures published last week by the Diamond Controller’s office in the Israeli Ministry of Trade, Industry and Labor show that during the first nine months of the year, Israel’s polished exports declined 52.8% to US$2.6 billion.
 
Exports to the US were down 60% to US$970.6 million, while to Hong Kong, exports fell 43% to US$757.2 million.
 
Polished imports fell 56% to US$1.5 billion, while net polished exports decreased 46% to US$1.08 billion.
 
Israel’s rough diamonds imports dropped 60% to US$1.59 billion, its rough exports fell 58% to US$1.26 billion and its net rough imports decreased 65% to US$329 million.
 
Israel’s net diamond account for January through September 09 fell 31% to US$747 million.
 
According to Diamond Controller Shmuel Mordechai Israel suffered a harsh decline in diamond trade at the onset of the global economic crisis last year. Mordechai added that while diamond trade is improving monthly, it may take a number of years before they return to the trade level seen in 2007/8.
 
The U.S. continued, as noted above, to be Israel’s main export destination in the nine month period, accepting 50% of exports -US$ 970.57 million. Hong Kong followed with US$757.25 million worth of goods.