Robust Business: Israel’s Diamond Exports Jump in Last Five Months
A report published by Israel’s Diamonds, Special Stones, and Jewelry Administration in the Economy and Industry Ministry shows that from January to May 2021, Israel’s polished diamond exports rose 68% year-on-year to $1.41 billion. Rough imports during that period totaled $755.5 million, compared to $303.3 million in the same period of 2020.
In May 2021, polished shipments more than tripled year-on-year to total $264.2 million. By volume, polished exports rose to 110,671 carats, compared to 37,294 carats a year earlier. Average carat price jumped 19% year-on-year to $2,387. Polished imports totaled $274.7 million, compared to $38.6 million a year before. Rough imports rose 595% year-on-year to $161.1 million. Rough exports totaled $137.9 million in May 2021 compared to $12.2 million in May 2020.
Ophir Gore, the nation’s diamond controller, said: “The Israeli diamond industry has many reasons to remain optimistic, among the main ones being the recovery of the global diamond industry, price increases, and the inventory reduction at the major mining companies, especially De Beers and Alrosa”.