Israeli polished diamond exports up 34% in first half of 2011

Israel exported US$4.3 billion of polished diamonds in the first six months of this year. Net rough diamond exports in H1 totaled some US$2.25 billion, an increase of 39.8%
 
The Ministry of Industry, Trade and Labor's Diamond Controller's Office reported last week that Israel exported US$4.3 billion of polished diamonds in the first six months of this year, a 34% rise compared to the same period of last year during which export wereUS$3 billion.
 
Net rough diamond exports in H1 totaled some US$2.25 billion, compared to US$1.6 billion last year, an increase of 39.8%.
 
Net imports of rough diamonds stood at some US$2.5 billion in the first half, an increase of 36.7% over the US$1.8 billion of net rough imports in the first half of 2010.
 
Net polished imports for the half rose 49.8% to approximately US$2.8 billion, compared to the US$1.9 billion in net polished imports for H1 2010.
 
Shmuel Mordechai, Diamond Controller in the Industry, Trade, and Labor Ministrysaid that overall diamond trade soared by around 40% from last year, and by 25% compared to 2008.
The US continues to serve as Israel's main market for polished diamonds, accounting for 48% of Israel's gross exports by valueof polished exports since the beginning of the year.
 
The US was followed by Hong Kong (27%); Belgium (7%); Switzerland (6%); India (3%); with 9% of Israel's polished exports going to other countries.