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Israel’s Polished Exports Slump in 1Q

May 1, 2018 8:19 AM   By Rapaport News
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RAPAPORT... Israel’s polished-diamond exports declined 33% to $1.16 billion in the first quarter of 2018, the nation’s Ministry of Economy and Industry reported this week.

By volume, outbound polished-diamond shipments fell 1% to 496,783 carats after returns of goods. The average price for polished exports decreased 32% to $2,328 per carat.

Polished imports rose 7% to $747.2 million, while net polished exports — representing exports minus imports — dropped 60% to $409.2 million.

Rough trading also declined, with imports down 7% to $728.6 million, while exports slid 1% to $761.3 million. Net rough imports — the excess of imports over exports — stood at negative $33 million, compared with positive $17 million a year ago.

Israel’s net diamond account — net polished exports minus net rough imports — plummeted 56% to $441.9 million for the January-to-March period.

Image: Traders in the Israel Diamond Exchange. Credit: Three Photographers
Tags: Israel, Israel Polished Exports, Ministry of Economy and Industry, Rapaport News
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