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Israel’s Diamond Industry Continues Upward Trend in July 2021

The rise is attributed to a recovery in global demand and a boom in business with the UAE
Israeli diamond exchange
Credit: IDI

According to the latest report published by the Israel Diamond Controller in Israel’s Ministry of Economy and Industry, the Israeli diamond industry continued its impressive growth during July 2021, with major rises in all parameters.

 

Israeli Diamond Bourse
Credit: IDI

Net import of polished diamonds in the first 7 months the year totaled $1.63 billion, a rise of 145% over the same period in 2020. Net exports of polished diamonds in that period were $2.02 billion, an increase of 69% over the same period last year.

 

Total net rough imports in the first 7 months of 2021 stood at $1.15 billion, a rise of 158% over the same period in 2020. Total net exports of rough diamonds during that time rose 229% over the same period last year, reaching $1.05 billion.

 

Credit: IDI

During July net rough exports to the UAE amounted to $15.5 million, 11% of Israel’s total rough exports during the month. Net rough imports from the UAE during July totaled $23 million, about 15% of the total imported to Israel during the month.

 

Israel Diamond Institute Managing Director Aviel Elia said that he was pleased with the continued growth and optimistic for the rest of the year. “We have seen major growth during this year and we can be proud of the quick recovery of the Israeli diamond industry. I believe that the industry will continue its growth trend, led by active demand for diamonds in the United States and China.”

 

 



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