Israel's June Polished Exports Fall ‘Due to Trade Show Returns’

Israeli net polished diamond exports in June totaled $400 million, a 17 percent decline from the $482 million figure recorded for June last year, according to the Ministry Industry, Trade and Labor which attributed the fall to returns from major trade shows.

Since the start of the year, the Israeli center has exported $3.479 billion of polished, a six percent rise on the first half of 2004.

Israeli imports of polished goods increased by 16 percent to $341 million from $294 million in June last year.

Shmuel Mordechai, Diamond Controller at the ministry, said the 17 percent fall in polished exports last month was due to the return of goods that had been sent to major trade shows in Hong Kong and the United States, pointing out that figures for the first six months year showed a continuing rise.

He added that the rise in diamond exports, since the start of the year, was a continuation of the trend seen throughout 2004 and believes that this year's exports will be better than last year's figures.

The largest rise in exports (61 percent) was recorded by Switzerland, followed by Hong Kong with a 31 percent increase, Belgium with 28 percent, the U.S. with 13 percent and Japan which posted a four percent rise.

As for export destinations, the U.S. took 60 percent of Israeli goods – a decline from the usual two-third figure – while Hong Kong accounted for 20 percent. Meanwhile, Belgium took eight percent, Switzerland accounted for four percent and Japan three percent.