Israel’s net polished diamond exports up 45.7% in Q1'11

According to the data by Israel Ministry of Industry, Trade and Labor’s Diamond Controller Shmuel Mordechai, the first quarter of 2011 saw ‘Israel Diamond Industry’s impressive recovery continue further’. The reports state that net polished diamond exports in the three months stood at $2.1billion rising 45.7percent ($1.4 billion in Q1 of 2010), and net rough diamond exports valued $1.2 billion up 39.6 percent ($829 million in Q1 of 2010).

Net polished imports increased 24.9 percent to $1.1 billion ($916 million in Q1 of 2010). Net rough diamond imports jumped 48.5 percent to $1.2 billion ($831million in Q1 of 2010).

Moti Ganz, Chairman of the Israel Diamond Institute Group of Companies (IDI) stated that “The Israeli Diamond Industry is back in full swing. The steady growth proves that we are well on the way to full recovery”. The United States accounted for 45 percent of total exports, Hong Kong 26 percent, Switzerland 9 percent, Belgium 8 percent, China 2 percent and the rest of the world 10 percent. Net polished exports to the U.S. were $694 million, to Hong Kong $506 million, to Switzerland $351 million, to Belgium $190 million and to China $63 million.

IDI Managing Director Eli Avidar said “Since the beginning of the year we have participated in four important trade shows – in Mumbai, Vicenza, Hong Kong and Basel. This year we have expanded our participation to additional trade shows in both Hong Kong and India. We are looking forward to a very promising year.” He further added that IDI launched its new marketing campaign for the year “Welcome to Israel” which signifies “The Israeli Diamond Industry is extending a welcome to you – wherever we meet. We hope you will visit us in Israel, where you will be most welcome”.