Israel's 2015 Polished Exports Slump 20% On 2014

Finance and Trade
04/01/2016 12:43

Israel's exports of polished diamonds plunged by more than 20% in 2015 from the year before to almost $5.0 billion from $6.27 billion, according to figures released by Shmuel Mordechai, Israel’s Diamond Controller. He said the sharp drop was due to the global decline affecting the diamond industry with falling demand in the United States and China together with the high prices of rough and polished diamonds. However, Mordechai said that the declines have affected the Israeli diamond industry less than other diamond centers. He also claimed that the 2015 Christmas period represented a significant change and an improvement in the global diamond trade.

The United States remains the primary market for Israel’s net polished diamond exports, with about 40% of the market valued last year at $2.0 billion. Hong Kong was second with a 27% share worth $1.35 billion, followed by Belgium with 9% worth $415 million, Switzerland with 7% worth $362 million, and Britain with a 3% share worth $158 million. The rest of the world accounted for 14% worth $710 million.

As for the rest of the figures, Israel’s net polished diamond imports in 2015 were $3.48 billion compared to $4.52 billion in 2014, a decrease of 23%. Meanwhile, net rough diamond exports were $2.2 billion in 2015, a 28% decrease from $3.06 billion in 2014. And net rough diamond imports in 2015 came to $2.78 billion from $4.02 billion in 2014, a fall of 31%.