Figures released by the Israel’s Ministry of Economy and Industry show the country’s exports of polished diamonds fell 11.8% year on year to $3.383 billion during the first nine months of 2017.
Exports of polished diamonds in the same period fell 10.4% to $1.796 billion. Rough imports dropped 11.6% to $2.089 billion. Polished imports declined 15.1% to $2.015 billion.
Diamond Controller at the Ministry of Economy Shmuel Mordechai commented that the first nine months of the year indicate a continued slide in the industry, both in exports and in imports. Industry leaders also commented that the decline is apparent despite good sales at the September Hong Kong Show.
The US is still the primary market for gross polished exports with 45% of the market, followed by Hong Kong (30%), Switzerland (9%), Belgium (8%), France (1%) and other countries (7%).
