Israel's Diamond Trade Has Slowed in 2017

Finance and Trade
27/10/2017 10:20

According to Rapaport News, based on figures from the Ministry of Economy and Industry, Israel's diamond trade as a whole has slowed in 2017, as exports of polished diamonds to the US, Israel’s largest market, declined 15% to $1.26 billion during the nine-month period. Exports to Hong Kong are also down, but only by 3% to $1.01 billion. Rapaport writes: "The country’s exports of polished diamonds fell 12% year on year to $3.38 billion during the first nine months of 2017, while the volume of goods sent out dropped 11% to 1.297 million carats. The average price of the shipments slid 1% to $2,608 per carat." Meanwhile, polished imports declined 15% to $2.01 billion. Looking solely at the third quarter, Israel’s polished exports fell 31% to $836 million.

On the rough side of the equation, rough diamond imports did not fare any better, also falling 12% to $2.09 billion, with rough exports sliding 10% to $1.8 billion.  

Source image: © Bloomberg