Israel’s Polished Diamond Exports Rise 37% in Third Quarter
The Ministry of Industry reported...Israel’s polished diamond exports rose 37 percent year on year to $5.83 billion in the third quarter of 2011, the Ministry of Industry, Trade and Labor reported. Polished imports grew 35 percent to $3.52 billion. Net polished exports, representing exports less imports, increased 40 percent to $2.31 billion.
Rough imports grew 35 percent year on year to $3.52 billion and rough exports rose 32 percent to $2.98 billion. Net rough imports, the excess of imports over exports, increased 54 percent to $540 million.
Israel’s net diamond account, representing total exports of polished and rough less total imports, rose 36 percent to $1.77 billion.
"The first three quarters of 2011 demonstrated growth in the trade of polished and rough diamonds in and out of Israel," said Shmuel Mordechai, the ministry’s diamond comptroller.
Mordechai noted a decline in the pace of growth during August. "The industry is now in a period of uncertainty and is searching ways to navigate trends that are developing within the global crisis," he said.
Full data, including the volume of trade and year-to-date figures, were not yet available at press time.
By: JewelryOurs
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