Israel’s polished diamond exports rose 14% in March

Israel’s diamond industry continued to show a significant increase in net polished diamond exports in March, with a rise of 14%, according to statistics reported by the Israel Ministry of Industry, Trade and Labor’s Diamond Controller, Shmuel Mordechai.

Net polished diamond exports reached $613.5 million, compared to $538.3 million in March 2004. Since the beginning of the year net polished exports rose 12.1%, from $1.720 billion in 2004 to $1.928 billion in 2005.

Net imports of rough diamonds rose by 15.6% in March, totaling $479.6 million, as compared to $414.8 million in the same month in 2004. Since the beginning of the year rough diamond imports showed a slight decrease from $1.304 billion in 2004 to $1.300 billion in 2005. Rough diamond exports from Israel continued to rise, increasing 17.9% in March to reach $272.0 million, compared to $230.6 million in the same month last year. Since the beginning of the year they rose 15.8%, from $782.5 million in 2004 to $906.2 million in 2005. Israel’s imports of polished diamonds increased 9.0% in March 2005 to reach $338.0 million, as compared to $310.1 million in March 2004. For the first three months of the year net imports of polished diamonds rose 12.9% to $890.0 million, compared to $788.1 million in the same period in 2004.

The major export markets for Israel’s polished diamonds in March were the United States with 62%, Hong Kong 15%, Belgium 9%, Switzerland 6% and England 2%.