Israel Diamond Industry Shows Gains

The Israeli Diamond Industry’s export and import of polished
and rough diamonds jumped by an average of 104
percent over the first half of 2009, according to half-yearly figures published
by the Israel Ministry of Industry, Trade and Labor’s diamond controller Shmuel

Net polished diamond exports totaled
$3.002 billion from January to June 2010, compared to $1.566 billion in the
same period of 2009, a rise of 91.7 percent. Net rough diamond exports stood at
$1.624 billion, compared to $796 million for the first half of 2006, an
increase of 104.1 percent.

Net rough diamond imports totaled
$1.817 billion in the first half of 2010, up 113.3 percent from the
corresponding period in 2009, when they stood at $852 million. Net polished
diamond imports were $1.882 billion, an increase of 105.2 percent over the same
period last year when they totaled $916 million.

The United States was Israel’s
primary polished diamond market with 52 percent of exports. Hong Kong was
second with 25 percent, followed by Belgium with 7 percent, Switzerland with 5
percent and India 2 percent. Net polished exports to the U.S. stood at $1.211
billion, to Hong Kong at $820 million, to Belgium at $260 million and to India
at $113 million. Net polished exports to China rose to $93 million compared to
$33 million in 2009.

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