Almost a Third of Israel's Rough Imports in June were from UAE
July 17, 22
(IDEX Online) - The UAE accounted for almost a third of Israel's rough diamond imports and almost a fifth of its exports last month, according to new figures.
There was no official trade of any kind between the two countries before the Abraham Accords, signed in September 2020, normalized relations.
But in June, Israel imported approximately $64m of rough diamonds from the UAE, which is about 30 per cent of total rough imports. And exports were $36m, about 19 per cent of total rough exports, according to figures released by the Israel Diamond Controller.
Israel's diamond trade continued its positive growth trend of the last 18 months.
Net polished diamond imports were $1.78 billion, up 28.7 per cent, and polished exports were $2.23 billion, an increase of 30 per cent.
Net imports of rough were $1.01 billion for the first half of 2022, a year-on-year increase of 1.4 per cent. Rough exports for the same period were $966 million, up 6.4 per cent.
The Abraham Accords ceremony at The White House. Pic shows Benjamin Netanyahu, Donald Trump, Abdullatif bin Rashid Al Zayani, and Abdullah bin Zayed Al Nahyan.