A very good start of the year for the Israeli diamond industry: According to figures released by the Israel’s Diamond Controller in the Ministry of Industry, Trade and Labor, Israel’s diamond exports totaled $1.696 billion in Q1 2017, compared with $1.467 billion in Q1 2016.
Since the beginning of the year, there was an increase of 15.6% in polished exports year-on-year. This increase “also stems from the latest trade shows in Hong Kong and Switzerland”, according to the Diamond Controller.
Exports of rough totaled $769 million in Q1 2017 – a 12.3% increase year-on year. Imports of rough totaled $754 million in Q1 2017 – a 4.1% increase year-on year. Imports of polished totaled $699 million, compared with $805 million in the corresponding period last year – a drop of 13.1%.
Diamond Controller Shmuel Mordechai said that although the quarter was marked by a drop in polished imports to Israel, this drop originates from the prices of diamonds in the world. He indicated the rise in exports of polished and in imports of rough as a result of sales in Hong Kong and Baselworld.
The US continues to be the main market for Israeli diamonds (39%), followed by Hong Kong (31%), Switzerland (16%), Belgium (7%), the UK (2%) and other countries (5%).
