Net polished diamond exports (excluding returns) totaled $538 million in March 2004, 13% more than the $477 million exported in March 2003. Net polished diamond exports totaled $1.72 billion in January-March 2004, 14% more than the $1.51 billion exported in the corresponding period last year.
Net rough diamond totaled $230 million in March 2004, 48% more than the $156 million exported in March 2003. Rough diamond imports in January-March rose by 51%, despite riding prices and trading during 2003.
Rough diamond imports totaled $415 million in March, 41% more than the $294 million imported in March 2003.
Net polished diamond imports totaled $310 million in March 2004, 6% more than the $292 million imported in March 2003.
Supervisor of diamonds at the Ministry of Industry, Trade and Labor Udi Sheintal said demand from the US, Western and Eastern Europe, and the Far East was responsible for the 14% increase in net polished diamond exports since the beginning of the year.
leading diamond merchants and the Ministry of Industry, Trade and Labor are making great efforts to open new sources of rough diamonds to Israel, in order to enhance the international standing of Israel's diamond industry as a center of trade in rough and polished diamonds.
Sheintal said the encouraging figures for the first months of 2004 could lead to a breakthrough in consolidating the industry's standing in Israel and internationally.
The US continues to be the main market for Israeli diamond exports, accounting for 70%, followed by Hong Kong - 10%, and Belgium - 7%.
Published by Globes [online] - www.globes.co.il - on April 13, 2004