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Home > Diamond News Center > Diamond News > Israel

26.9% Increase in the Export of Polished Diamonds from Israel in February 2008

The US is still main market for gross export of polished diamonds at 47%, Hong Kong - 31%, Belgium - 9%, Switzerland - 3%, England - 2% and others - 8%
03.03.08, 10:57 / Israel

Net export (after returns) of polished diamonds from Israel in February 2008 came to $805 million in comparison to $634 million during the same month last year, constituting a 26.9% increase.

 

Since the beginning of the year the net export of polished diamonds from Israel came to $1.560 billion as compared to $1.364 billion during the same period last year, a 14.4% increase.

 

The net export of rough diamonds increased by 10.8% during the month of February this year, from $310 million last February to $343 million.  

 

The net import of rough diamonds in the month of February 2008 came to $532 million in comparison to $454 million last year, constituting an increase of 17.1%.

 

The net import of polished diamonds in February 2008 reached $330 million as compared to $339 million during the same month last year. This constituted a 2.6% decrease.

 

The Israel Diamond Controller, Shmuel Mordechai, notes that since the beginning of the year there has been a 14.4% increase in the net export of polished diamonds from Israel and a 21.1% increase in the import of rough diamonds to Israel, as well as a 41.1% increase in the export of rough. He noted: “We are viewing a recovery in the import and export of rough and the export of polished. However, part of the increase in the export of polished is due to large consignments sent to the Hong Kong Trade Show. Once it ends, the returns from the show will be reflected in a decrease in the March data.”

 

The United States continues to be Israel’s main market for the export of gross polished diamonds at 47%, Hong Kong – 31%, Belgium – 9%, Switzerland- 3%, England – 2% and others – 8%.

 

Regarding the net export of polished diamonds, Hong Kong is the leader with 37%, mainly due to the large shipments sent to the Hong Kong Trade Show in the beginning of March, US – 35%, Belgium – 10%, Switzerland – 4%, England – 2% and others – 12%.

 

 

By: Rachel Lieberman, Israel Diamond Industry Portal
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