Israel’s August Polished Diamond Exports Suffer Blow

Net polished diamond exports from Israel declined in August 13.2 percent to $456 million. Exports in August 2006 were $525 million. Despite the sharp drop, exports in the first eight months of the year rose 5.6 percent, and stand at $4.693 billion.

According to preliminary figures released by the ministry of Trade, Industry and Labor, 43 percent of exports in August were shipped to the U.S., 21 percent to Hong Kong and 12 percent to Belgium.

Polished diamond imports since the start of the year rose 9.9 percent to $2.65 billion from $2.411 billion during the January-August 2006 period.