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MID Continues Reign as Leading Israeli Exporter

Mar 20, 2018 4:00 AM   By Rapaport News
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RAPAPORT... MID House of Diamonds was the premier Israeli polished-diamond exporter for the third consecutive year, according to a list the nation’s Ministry of Economy and Industry published recently.

The company, whose exports dropped 5% to $175 million in 2017, was one of four in the top 10 that saw a decline. Overall, polished exports for the country fell 4% to $4.48 billion, government data showed.

“We are, of course, delighted at hearing the news, especially during a challenging time for the trade, such as we experienced in 2017,” said Michael Meirov, CEO of MID.

Second-placed D.N. Diamonds was among the gainers, with its exports increasing 17% to $119 million, jumping one place from last year. It swapped positions with Niru Diamonds Israel, whose exports decreased 11% to $116 million.

Other companies that saw an increase in exports during 2017 were fourth-placed Yoshfe Diamonds International, and Andre Messika, which moved from eighth spot in 2016 to round out the top five last year. Kimchi Diam, with a 57% spike in exports to $44 million, ranked 10th after placing 17th in 2016. Leo Schachter Diamonds lost the most ground in shipments, falling 36%, and moving from fifth to sixth place.

Niru Diamonds and Leo Schachter did not respond to a request for comment.

In total, the top 10 companies shipped $813 million worth of polished diamonds in 2017, representing 18% of the market, said diamond controller Danny Tal.

The list did not take into account 10 companies that chose to keep their data confidential. Including these firms, total exports for the top 20 came to $1.75 billion, and comprised 39% of the nation’s polished shipments, Tal said.

Israel’s Top 10 Polished-Diamond Exporters

2017 2016 Change
1 MID House of Diamonds 175 184 -5%
2 D.N. Diamonds 119 102 17%
3 Niru Diamonds Israel 116 131 -11%
4 Yoshfe Diamonds International 82 79 4%
5 Andre Messika 70 49 43%
6 Leo Schachter Diamonds 63 99 -36%
7 M.A Anavi Diamond Group 53 48 10%
8 Anita Diamonds 47 42 12%
9 Rosy Blue Sales 44 52 -15%
10 Kimchi Diam 44 28 57%
Source: Ministry of Economy and Industry
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Tags: Andre Messika, Danny Tal, Israeli polished-diamond exporter, Kimchi Diam, Leading Israeli Exporter, Leo Schachter Diamonds, MID, MID House of Diamonds, Niru Diamonds Israel, Rapaport News
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