Israel’s net polished diamond exports rose 20% in May 2005, according to statistics reported by the Israel Ministry of Industry, Trade and Labor’s Diamond Controller, Shmuel Mordechai. Net polished diamond exports reached $795 million during this month, as compared to $660.9 million in May 2004. Net polished diamond exports reached $3.080 billion in the first five months of the year, compared to $2.805 billion for the same period in 2004, a rise of 10%.

Rough diamond exports from Israel continued to rise, increasing 43% in May to reach $404.1 million, compared to $282.4 million in the same period last year. From January to May they rose 23% to total $1.533 billion, as compared to $1.246 billion for the same period in 2004.

Net imports of rough diamonds increased by 31% in May, totaling $536.9 million, as compared to $409.3 million in May 2004. From January to May rough diamond imports rose by 5%, reaching $2.129 billion, as compared to $2.026 billion during the first five months of 2004.

Israel’s imports of polished diamonds increased 23% in May to reach $346.6 million, as compared to $280.1 million in May 2004. In the first five months of the year net imports of polished diamonds rose17 % to $1.519 billion, up from $1.294 billion for the same period in 2004.

The major export markets for Israel’s polished diamonds in March were the United States with 72%, Hong Kong 11%, Belgium 8%, Switzerland 2% and Japan 2%. Exports to the U.S. rose 16%, to Hong Kong 28%, to Belgium 33%, to Switzerland 53% and to Japan 2%.

JCK