Israel’s rough diamond exports drop 60% in October 2011

At the end of October 2011, Israel recorded a fall in its exports of both rough and polished diamonds. Exports of polished diamonds dropped 31 percent on y-o-y basis to $397.7 million, while exports of rough diamonds dipped 60 percent to $125.6 million.

The country’s combined imports (of rough diamonds and polished diamonds) fell 31 percent on y-o-y basis to $677.7 million. The month delivered a net diamond account (valued as total exports of rough and polished less total imports) to a deficit of $154.4 million ( last year the same stood at a deficit of $75.2 million in October 2010).