Israel’s net polished diamond exports rose 9 percent in November

Israel’s net polished diamond exports rose 8.8 percent in November 2005, according to statistics published by the Israel Ministry of Industry, Trade and Labor’s diamond controller, Shmuel Mordechai. Net polished diamond exports reached $729.5 million in September, compared to $670.4 million for the same month in 2004. Israel’s net polished diamond exports rose 4.9 percent during the first eleven months of 2005, reaching $6.324 billion, as compared to $6.030 billion during the same period in 2004.

Rough diamond exports from Israel continued to rise, increasing 27.1 percent in November 2005 to reach $297.2 million, compared to $233.8 million in the same period last year. From January to November they rose 24.6 percent to total $3.4 billion, as compared to $2.7 billion for the same period in 2004.

Net imports of rough diamonds increased by 26.9 percent in November 2005, and totaled $460.7 million, as compared to $363.2 million in November 2004. During the first eleven months of the year rough diamond imports increased by 4.5 percent, reaching $4.9 billion, as compared to $4.7 billion for the same period in 2004.

Israel’s imports of polished diamonds increased by 8 percent in November 2005, reaching $355.9 million, as compared to $329.6 million in the same month last year. From January to November net imports of polished diamonds rose 9.1 percent to $3.4 billion, up from $3.1 billion in the same period in 2004.

For the first eleven months of the year, polished exports to the U.S. declined 2 percent, but rose by 18 percent to Hong Kong, 9 percent to Belgium, 66 percent to Switzerland and 3 percent to Japan. The major export markets for Israel’s polished diamonds in November were the United States with 63 percent, Hong Kong 11 percent, Belgium 10 percent, Switzerland 3 percent and Japan 2 percent.