Israeli Polished Diamond Exports Rebound, Up 58.5% in October

After months of slumping polished diamond exports, Israel exported $611 million worth of goods in October, a 58.5 percent leap compared to the $386 million exported in October 2005.

However, the huge increase has not closed the gap completely, leaving exports to date 1 percent shy of the $5.599 billion exported in the first ten months of 2005.  Exports of polished diamonds so far this year total $5.544 billion.

Exports to Israel’s top five destinations fluctuated over the past ten months.  Exports of polished diamonds to the U.S. and Switzerland declined 1 percent and 9 percent respectively, while exports to Hong Kong, U.K., and Belgium increased by 7 percent, 5 percent, and 1 percent respectively.

Diamond controller Shmuel Mordechai commented that the October figures are encouraging and expresses hope that they signal a recovery in the diamond industry.