Israel sees surge in half-year diamond results

by jacquie_dealmeida | October 12, 2011 9:00 am

Strong showings at both JCK Las Vegas and the Hong Kong Jewellery and Gem Fair in June helped propel Israel’s half-year results to double digit growth. According to the Israel Ministry of Industry, Trade, and Labor, net exports of polished diamonds jumped 33.9 per cent to $4.3 billion from $3 billion in the first six months of the year. Net rough exports were up 39.8 per cent to $2.25 billion compared to $1.6 billion during the same period in 2010. Imports of polished diamonds also saw significant increases, with polished jumping 49.8 per cent to $2.8 billion from $1.9 billion and rough recording a 36.7 per cent increase to $2.5 billion from $1.8 billion. The United States remains Israel’s largest export market at 48 per cent, followed by Hong Kong with 27 per cent, Belgium at seven per cent, Switzerland with six per cent, and three per cent for India. The rest of the world totals nine per cent of exports. Moti Ganz, chair of the Israel Diamond Institute Group of Companies (IDI), says the results indicate the Israeli industry is on track for a full recovery, with polished export figures surpassing the 2008 benchmark by 25 per cent. “The [IDI] is reaching new heights,” Ganz said. “It continues to display great strength and vibrancy. I am certain that full-year figures will continue this positive trend.

Source URL: https://www.jewellerybusiness.com/news/israel-sees-surge-in-half-year-diamond-results/

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