Israel’s Polished Diamond Exports Continue Slow Recovery In MayJune 14, 10
Israel’s diamond industry is slowly recovering from the after affects of the 2008-09 global financial crisis, which severely hit the U.S., Israel’s leading polished diamond export destination.
Compared to May 2008, before the financial crash, Israel exported a net of $1.02 billion worth of polished diamonds, indicating that while the center is on a recovery track, its exports still have room for growth.
Gross polished diamond exports in May stood at $1.14 billion.
In the first five months of 2010, Israel’s net exports of polished diamonds totaled $2.55 billion.
Israel imported $647.1 million worth of polished and rough diamonds, according to the CBS, which does not separate diamond imports, or provide data by carats. To date, Israel exported $3 billion worth of diamonds.
Israel’s exports of jewelry totaled $34.3 million in May, declining 17.4 percent from the $41.5 million exported in May 2009.