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Israel Diamond Industry Enjoys Rare Growth
May 8, 2017 5:57 AM
By Rapaport News
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RAPAPORT... Israel’s polished diamond exports bounced back in the
first quarter as orders from Switzerland and the US grew during the period.
Outbound polished shipments jumped 16% to $1.7 billion in the January-to-March period, according to the nation’s
Ministry of Industry, Trade and Labor. The increase was only the third positive
quarter for polished exports out of the past two-and-a-half years, according to
Rapaport calculations.
Switzerland was the largest export market for the Israeli
trade, with shipments rising significantly to $535.1 million during a quarter
that included the annual Baselworld show. Exports to the US increased 3.5% to $513.9
million.
Israel’s polished imports fell 13% to $699.3 million
during the period, leaving net polished exports 51% higher at $997.1 million.
Rough imports increased 4% to $785.2 million, while rough
exports advanced 12% to $768.2 million. Net rough imports slid 76% to $17
million.
Israel’s net diamond account for the quarter – calculated
as total polished and rough exports minus total imports – grew 65% to $980
million.
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Tags:
Baselworld, Israel, Israel Diamond Exchange, Israel Diamond Trade, net diamond account, polished diamond exports, polished exports, Rapaport News, Switzerland, trade data, US
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