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Israel’s Polished Exports Drop

Aug 28, 2017 4:26 AM   By Rapaport News
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Israel’s diamond trade slowed in the first half of the year, according to data the Economy and Industry Ministry released last week.

Exports of polished diamonds declined 3% to $2.55 billion excluding returned goods, while volume fell 6% to 919,422 carats, the figures showed. The average price of exports increased 4% to $2,769 per carat.

Polished exports to Hong Kong increased 7.5% to $733.9 million, while shipments to Belgium jumped 29% to $252.6 million. While the ministry did not disclose exports to the US after returns, it said “gross” shipments to the American market, including goods that came back, dropped 6% to $3.11 billion.

Polished imports slid 14% to $1.39 billion, meaning net polished exports — representing exports minus imports — fell 15% to $1.15 billion.

Rough imports declined 6% to $1.53 billion, with rough exports down 1.8% to $1.37 billion. Net rough imports increased 30% to $161.4 million.

Israel’s net diamond account for the first half, calculated as total rough and polished exports minus total imports, slumped 29% to $990.8 million.
Tags: Belgium, Economy and Industry Ministry, Hong Kong, Israel, polished exports, Rapaport News, trade data, US
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