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Israel Polished-Diamond Exports Decline

Nov 10, 2019 9:50 AM   By Rapaport News
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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)
Tags: data, exports, imports, Israel, Ministry of Economy, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, Rapaport News, rough exports, rough imports, trade data
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