Israeli Diamond Industry Logs Double Digit Growth

The Israeli diamond industry saw double-digit growth in exports
and imports of both polished and rough diamonds in the first half of 2011,
according to figures published by the Israel ministry of industry, trade and
labor’s diamond controller Shmuel Mordechai.

Israel’s net export of polished diamonds in the first half
of 2011 totaled $4.3 billion, compared with $3 billion in the same period last
year. Since January, Israel’s net polished diamond exports have increased 33.9
percent.

Net rough diamond exports stood at $2.25 billion, compared with $1.6 billion in the first half of 2010, a rise of 39.8 percent.

Israel’s net imports of polished diamonds jumped 49.8
percent to $2.8 billion, compared with $1.9 billion in the first half of last
year. Net rough diamond imports totaled $2.5 billion, an increase of 36.7 percent
over the first half of 2010, when they stood at $1.8 billion.

The United States remained Israel’s largest market with 48
percent of total exports. Hong Kong accounted for 27 percent; Belgium, 7
percent; Switzerland, 6 percent; India, 3 percent; and the rest of the world, 9
percent.