Diamond exports rose 73% in January-February 2013 to $2.3 billion, according to a periodic analysis by the Israel Export and International Cooperation Institute. Polished diamond exports rose 138% in January-February to $1.7 billion, and rough diamond exports rose 1% to $600 million.
The jump in diamond exports stands out compared with the low exports in the final months of 2012. Diamond industry sources had been concerned that the industry might be entering a crisis, due to the drop in demand caused by the slowdown in global markets.
Exports of goods, excluding diamonds, rose by 4.2% in January-February to $7.1 billion. Industrial exports rose by 5% in January-February, compared with the corresponding period of 2012, to $6.8 billion.
Most of the growth in the export of goods in January-February was due to a 43% growth in pharmaceuticals exports, compared with November-December 2012. Pharmaceuticals exports totaled $1.1 billion in January-February. The Export Institute said today that, excluding pharmaceuticals exports, exports fell by 1.8% in January-February. It attributed the increase in pharmaceuticals exports to the volatility of the market and the fact that activity in it varies significantly from time to time in a way that materially affects the trade figures.
The Export Institute also reported that agricultural exports fell almost 20% in January-February to $335 million. Chemicals exports also fell, by 6%, to $1.3 billion. Exports of machinery and equipment fell by 5%, exports of metals fell by 3%, and exports of textiles fell by 4%. By contrast exports by the rubber and plastics industry, the food and beverages industry, the electrical equipment industry, and minerals, all rose.
Published by Globes [online], Israel business news - www.globes-online.com - on March 27, 2013
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