RAPAPORT… Israel’s polished-diamond exports fell 21% to $2.62 billion
in the first nine months of the year, according to data from the nation’s
Ministry of Economy. Shipments to the US, Israel’s largest export market,
dropped 14% to $1.13 billion, while supply to Hong Kong slid 46% to $577
million.
Israel Trade Data for Jan-Sep 2019
| Jan-Sep 2019 | Year-on-year change | |
| Polished exports | $2,623 | -21% |
| Polished imports | $1,791 | -18% |
| Net polished exports | $832 | -28% |
| Rough imports | $1,321 | -34% |
| Rough exports | $1,124 | -37% |
| Net rough imports | $197 | -14% |
| Net diamond account | $635 | -31% |
| Polished exports: volume | 1.1 million carats | -9% |
| Average price of polished exports | $2,324/carat | -13% |
All numbers in millions unless stated otherwise. Exports exclude goods that were shipped overseas and brought back unsold.
Source: Ministry of Economy; Rapaport calculations
About the data: Israel is usually a net importer of
rough diamonds and a net exporter of polished. As such, net polished exports
— representing polished exports minus polished imports — will normally be a
positive number. Net rough imports — calculated as rough imports minus
rough exports — will also generally be in surplus. The nation’s main role in
the market is as a manufacturer of polished, though it is also home to a
significant rough trade. The net diamond account is total rough and
polished exports minus total imports. It is Israel’s diamond trade balance, and
shows the added value the nation creates by producing polished or exporting
rough.
Image: The diamond-exchange district in Ramat Gan, Israel. (Shutterstock)
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