The Director of Israel’s Diamond Gems and Jewelry Administration Shmuel Mordechai: In 2008 there has been a 9.3% increase in the net export of polished diamonds
The net export of polished diamonds (minus returns) during July came to $822 million as compared to $643 million during the same month last year, constituting a 27.7% increase.
Since the beginning of the year, the net export of polished diamonds reached $4,614 billion as compared to $4,222 billion during the parallel period last year, representing a 9.3% increase.
In July 2008, the net export of rough diamonds totaled $313 million as compared to $267 million during the same month last year, constituting a 17.3% increase.
The net import of rough diamonds reached $468 million in comparison to $493 million during July 2007, constituting a 5% decrease.
The net import of polished diamonds in July 2008 reached $426 million as compared to $381 in July 2007, constituting an 11.7% rise.
Since the beginning of the year, the rise in rough diamond exports has reached 11.6%.
The Director of Israel’s Diamond Gems and Jewelry Administration Shmuel Mordechai noted that in 2008 the net increase in polished diamond exports reached 9.3%, and net rough diamond exports rose by 24%. Mordechai added that at the end of July diamond shipments were sent to the IIJS jewelry show held in Mumbai in the beginning of August; Thus, after subtracting returns, the gross export in July will be lower. Nevertheless, these shipments do not impact on the impressive increase in net diamond exports in the course of July 2008.
Worthy of notice is the fact that the data indicate an impressive increase in diamond exports. The United States continues to be the main export destination for Israeli diamonds.
The distribution of net polished diamonds according to countries in July 2008:
USA 52%
Hong Kong 19%
India 11%
Switzerland 3%
England 2%
Others 13%
By: Rachel Lieberman, Israel Diamond Industry Portal
