25% Hike in Israel's Polished Exports
October 13, 22
(IDEX Online) - Israel's polished diamond exports rose by 25 per cent to $3.2bn in the first three quarters of 2022.
Polished imports for the same period were up 19 per cent to $2.5bn, according to the Diamond Controller of the Israel Ministry of Economy and Industry.
Net import of rough diamonds to Israel fell slightly, by 0.5 per cent, to $1.5bn. and exports fell by 1.0 per cent to $1.3bn.
However rough exports fell sharply during September, down 48 per cent to $94m. Imports during the month increased 28 per cent to $109m.
"This is a volatile time for the diamond industry worldwide, with uncertainty concerning rising inflation in the U.S. and the war in Ukraine," said Boaz Moldawsky, president of Israel Diamond Exchange.
"We are still looking forward to a successful holiday season, although it is likely that it won't reach the levels of 2021."
Pic shows Israel Diamond Exchange.