Israel’s net polished diamond exports rise by 55%

Net rough diamond exports amounted to $832 million in the first quarter, indicating a 164% rise over $315 million in the corresponding period of 2009
 
Report published last week by Israel's diamonds controller, Shmuel Mordechai, noted that Israel’s net polished diamond exports in the first three months of 2010, were worth US$1,451 million, higher by 55% over US$936 million worth of net polished diamond exports in the same period of 2009. Net polished diamond imports in the first quarter of 2010 valued $835 million, higher by 105% over $407 million worth of net polished imports in the same period of 2009, the reports add.
 
Net rough diamond exports amounted to $832 million in the said 2010 quarter, indicating a 164% rise over $315 million worth of net rough exports in the corresponding period of 2009. Net rough diamond imports amounted to $917 million, reflecting a 234% rise over $274 million worth of rough imports in the same three months of 2009, as reported.
 
Reports further indicate that the export and import figures of diamonds of the three months of 2010, yet indicate an average 27% fall over the first quarter of 2008.
 
"The recovery is continuing, but we're still far from the strong level of activity of 2007 and the first three quarters of 2008," said Mordechai.
 
The US is still Israel's largest market for polished diamond exports, accounting for 47%. Hong Kong is in second place, with 27%, followed by Switzerland with 8%, Belgium - 7%, the UK - 2%, and all other countries - 9%.