Israeli Diamond Industry Shows Recovery

The Israeli
diamond industry bounced back strongly in 2010, according to figures published
by the Israel Ministry of Industry.

“The Israeli industry is well on its way to full recovery from the economic
crisis,” said Moti Ganz, chairman of the Israel Diamond Institute Group of
Companies, in a statement. “We can look forward to continued growth in 2011.”
 
Net polished diamond exports for the year rose 48.1 percent to $5.8 billion,
compared to $3.9 billion in 2009. Net rough diamond exports increased 62.1 percent
to $3.06 billion, compared to $1.9 billion in 2009. Net import of polished
diamonds jumped 68 percent to $4.2 billion, compared to $2.5 billion in 2009.
 Net rough diamond imports rose 50.6 percent to $3.8 billion, compared to
$2.5 billion in 2009.
 
The United States remained Israel’s largest export market with 41 percent of
total exports. Hong Kong accounted for 25 percent, India 5 percent, Switzerland
4 percent, China 3 percent, and the rest of the world 22 percent. Net polished
exports to the U.S. were $2.403 billion, to Hong Kong $1.487 billion, to India
$264 million, to Switzerland $248 million, and to China $177 million.