Israel’s polished diamond exports climbed 14.4% in 2004

Israel’s polished diamond exports climbed 14.4% in 2004 Israel’s diamond industry ended 2004 with an increase in both exports and imports, according to statistics reported by the Israel Ministry of Industry, Trade and Labor’s Diamond Controller, Shmuel Mordechai. Net polished diamond exports rose 14.4% to reach an all time high of $6.333 billion, compared to $5.532 billion in 2003.

Net imports of rough diamonds totaled $5.150 billion in 2004, as compared to $3.892 billion in 2003, an increase of 32.4%. Rough diamond exports from Israel rose 31% in 2004 to reach $2.920 billion, up from $2.228 billion in 2003. Israel’s imports of polished diamonds increased 4.6% in 2004 to reach $3.562 billion, as compared to $3.405 billion in 2003.

The major export markets for Israel’s polished diamonds in 2004 remained the United States with 67%, Hong Kong 13%, Belgium 9%, Switzerland 3% and Japan 2%.

Diamond Controller Shmuel Mordechai reported that rough diamond imports from the DTC were $932 million during the year, representing 18% of total rough imports, compared to 22% in 2003.