As per latest data released by Israel’s Diamond Controller the country faced a decline of around 28. 3 per cent in rough diamond exports, while indicating a similar trend in polished diamond export from Israel. In fact, the polished diamond exports from Israel by over a fifth in the year 2015 from US$6,267 billion in 2014 to US$4,996 billion in 2015. 

A similar trend of decline was also witnessed in the import of diamonds in the country. For instance, Israel’s net polished diamond imports in 2015 amounted to US$3,480 billion compared to US$4,516 billion in 2014, representing a decrease of 22.9 per cent.  On the other hand, net rough diamond imports in 2015 amounted to US$2,781 billion compared to US$4,023 billion in 2014, representing a decrease of 30.9 per cent. 

However, the United States continues to be the main destination market for Israel’s net polished diamond exports, constituting about 40 per cent of the market at US$2,001 billion. The United States is followed by Hong Kong, with a 27 per cent share at US$1,350 billion. 

However, this declining trend is being seen as temporary due to tough international market conditions, which has already been indicating a positive turn after this Christmas. Let us hope for the best.