Israel’s third quarter diamond trade figures point to signs of recovery, according to Ministry of Industry, Trade and Labor Diamond Controller Shmuel Mordechai,
Israel’s net polished diamond exports were $4.34 billion for the first three quarters of the year, compared to $5.83 billion for the same period last year, a decline of 25.6%.
“Judging by the last two important trade shows, in Mumbai and Hong Kong, we are definitely seeing an upward movement in the diamond trade. Though we still have some way to go before we reach last year’s figures, which were Israel’s best ever, I am confident that the positive trend will continue through the rest of the year,” said Moti Ganz, Chairman of the Israel Diamond Institute Group of Companies (IDI)
Net rough diamond exports totaled $2.07 billion for the first nine months of 2012, compared to $2.98 billion, a 30.6% decrease. Net imports of rough diamonds were $2.65 billion, compared to $3.514 billion for the same period last year, a 24.7 % drop.
Net polished imports stood at $3.08 billion, 26.1 % less than in the first three quarters of 2011, when they totaled $4.17 billon.