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ISRAEL’S NET POLISHED DIAMOND EXPORTS UP 6% IN 2014 H1

Israel’s net polished diamond exports for the first half of 2014 rose 6% to $3.6 billion as compared to $3.4 billion during the first half of 2013, according to figures published by Israel Ministry of Economy’s Diamond Controller Shmuel Mordechai.

 

Israel’s net imports of polished diamonds rose 3.2% to reach $2.2 billion, compared to $2.1 billion during the first half of 2013.

 

Net rough diamond exports grew by 6% to $1.8 billion, compared to $1.65 billion during the same period last year. Net rough diamond imports increased 0.9% to $2.1 billion, compared to $2.0 billion last year.

 
The United States continued to be Israel’s largest export market for polished diamonds during the first half of 2014, accounting for 45% of gross exports. Hong Kong was the next largest market, accounting for 31% of the market. Switzerland accounted for 8%, Belgium 7% , England 2% and other countries 7%.

 
Israel Diamond Institute (IDI) Chairman Moti Ganz said that the figures for the first half of 2014 were gratifying, especially in light of the economic conditions in the major markets. “We are pleased to see growth of 6% in polished exports for the first half of 2014. We are optimistic that there will be further growth during the second half of the year,” he said.

 
IDI Managing Director Eli Avidar said that the Israeli Diamond Industry continued to actively seek out marketing opportunities during the first half of 2014, participating in major trade shows in Asia, the U.S. and Europe. Avidar said that during the second half of the year, in addition to organizing industry participation in important trade shows, IDI would hold Israel’s first local trunk show in the United States: the Texas-Israel Diamond Show, in conjunction with the Texas Jeweler’s Association in September. “We expect that this will be the first of a series of local trunk shows held in selected markets in the United States,” he said.

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