Diamond market recovery continuing, says IDI

by eyetee | July 19, 2010 12:00 am

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Israel’s diamond industry is crediting new marketing initiatives for helping boost exports and imports of polished and rough diamonds 104 per cent in the first half of 2010.

Half-yearly figures published by the Israel Ministry of Industry, Trade, and Labor show net polished diamond exports from January to June 2010 totalled $3 billion. That’s up 91.7 per cent from $1.6 billion over the same period last year. On the rough diamond side, exports increased 104.1 per cent to $1.6 billion from $796 million.

Net rough diamond imports came in at $1.8 billion in the first half of 2010, an increase of 113.3 per cent. Net polished diamond imports totalled $1.9 billion, up 105.2 per cent from $916 million.

“We are not surprised by the statistics, since the Israeli diamond industry is experiencing a pronounced upturn in activity,” said Moti Ganz, chair of the Israel Diamond Institute Group of Companies (IDI). “We are confident the Israeli industry will continue to grow. We look forward to a return to our previous levels of activity.”

IDI managing director Eli Avidar said other initiatives like actively supporting the industry through trade shows and reaching out to markets, such as China and India, have made inroads into fighting back the economic downturn.

“We see a rise in interest and participation in our activities,” Avidar said. “We are continually seeking new opportunities to promote the growth of the Israeli diamond industry.”

Source URL: https://www.jewellerybusiness.com/news/diamond-market-recovery-continuing-says-idi/

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