Net polished diamond exports from Israel came to $7.076 billion in comparison to $6.611 billion during 2006, constituting a 7% increase.
Net rough diamond exports came to $3.386 billion in 2007 as compared to $2.699 billion in 2006, a 25.5% increase.
The net import of polished diamonds in 2007 was $4.558, compared to $4.24 billion in 2006 – a 13.3% increase.
Net rough diamond imports in 2007 stood at $5.084 billion as compared to $4.709 billion in the previous year, constituting an 8% increase.
The Manager of the Diamonds, Precious Stones and Jewelry Administration, Shmuel Mordechai, stated: "The year 2007 presented the world diamond industry with many challenges. Nevertheless, the Israeli Diamond Industry rose to the challenge and ended the year with a marked increase in polished diamond exports and rough diamond imports vis-?-vis last year."
Shmuel Mordechai noted that 2007 was a record year and a turning point when it comes to the export of polished diamonds. Total net export of rough and polished diamonds exceeded $12 billion.
Nevertheless, Mordechai notes that the export of polished diamonds requires ever increasing efforts as for every million dollars of exports, the diamantaire must send out over $2 million, i.e., the return for polished diamonds exceeds 50%.
The segmentation of the net polished diamond export according to the five leading countries is as follows:
The United States - $3.731 billion
Hong Kong - $1.310 billion
Belgium - $0.562 billion
Switzerland - $0.429 billion
India - $0.109 billion
The United States continues to be the largest market for Israeli diamonds, claiming 53%. Hong Kong claims 19%, Belgium – 8%, Switzerland -6%, India – 2%, and the rest of the world – 12%.
