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Israel’s net polished diamond exports rise 11.6% in 2013
The US was its major market for polished diamonds
By: Diamond World News Service
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Jan 16 2014 11:49PM
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Reference: 8726  

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In the year 2013, the Israeli Diamond Industry noted 11.6 percent increase (on y-o-y basis) in its net polished diamond exports, which valued $6.2 billion. The previous year, the said exports stood at $5.6 billion. Also, net rough diamond exports rose, but marginally, from $2.8 billion in 2012 to $2.9 billion in 2013.

Region-wise, the United States continued to be Israel’s major market for polished diamonds, accounting for 37.3 percent of the market, with net exports of $2.3 billion, followed by Hong Kong with 27% of exports, Switzerland (9.3 percent of exports), Belgium (7.3 percent of exports) and India (2.3 percent of the said exports or $145 million).

Net rough diamond imports rose 4.1 percent to $4.0 billion, compared to $3.8 billion in 2012. Net imports of polished diamonds remained the same, totalling $4.3 billion, compared to $4.26 billion for 2012.

Moti Ganz, Chairman of the Israel Diamond Institute Group of Companies (IDI) stated that despite the seruious economic challenges faced by the global diamond industry in 2013, ‘the Israeli Diamond Industry was able to achieve significant growth through creativity and resourcefulness’. He added that he was pleased that the United States and some European markets were flourishing, and expressed optimism about the medium term prospects of the Asian markets.

IDI Managing Director Eli Avidar added that the Israeli Diamond Industry’s active marketing efforts in 2013 made a significant contribution to the export growth. He said that IDI was planning to expand these activities in the coming year. Avidar also mentioned that in addition to the international buying events held in 2013 in Ramat Gan and New York, the industry would hold several special rough events and would participate in new trade shows in selected markets.

The trade figures were published by the Israel Ministry of Economy’s Diamond Controller Shmuel Mordechai.

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