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Israel’s Polished Exports Fall
Jul 25, 2018 11:09 AM
By Rapaport News
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RAPAPORT... Polished-diamond shipments out of Israel declined 6% in the
first half of the year, according to data the Ministry of Industry, Trade and
Labor released this week. The drop is
the nation’s fourth consecutive first-half decline in polished exports. Export
volume slipped 5%, with the average price down 1%. The nation also received a
lower total value of rough during the half year than the same period in 2017.
Israel ships significantly more goods overseas in the first
six months than it does in the second, as retailers restock their inventories
in the early months of the year after the holidays. The figures exclude goods
that traders exported out of Israel and then sent back to their home country.
| $ Millions unless stated otherwise |
Apr-June 2018 |
Year-on-year change |
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| Polished exports |
1,261 |
51% |
| Polished imports |
749 |
8% |
| Net polished exports |
513 |
265% |
| Rough imports |
686 |
-8% |
| Rough exports |
580 |
-3% |
| Net rough imports |
106 |
-27% |
| Net diamond account |
407 |
N/A* |
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| Polished exports: volume (thousand carats) |
358 |
-10% |
| Average price of polished exports ($/carat) |
3,527 |
67% |
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Jan-June 2018 |
Year-on-year change |
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| Polished exports |
$2,418 |
-6% |
| Polished imports |
$1,496 |
7% |
| Net polished exports |
$922 |
-21% |
| Rough imports |
$1,415 |
-7% |
| Rough exports |
$1,342 |
-2% |
| Net rough imports |
$73 |
-55% |
| Net diamond account |
$849 |
-16% |
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| Polished exports: volume (thousand carats) |
854 |
-5% |
| Average price of polished exports ($/carat) |
2,830 |
-1% |
*Net diamond account was $4 million in deficit a year earlier.
Source: Ministry of Industry, Trade and Labor; Rapaport archives and calculations
About the data: Israel is a net importer of rough and a net
exporter of polished. As such, net
polished exports — representing polished exports minus
polished imports — will usually be a positive number. Net rough imports —
calculated as rough imports minus rough exports — will also generally be in
surplus. 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 manufacturing rough into polished.
Image credit: Three Photographers. Taken at International Diamond Week in Israel, February 2018
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Tags:
Average Price, imports and exports, Israel, Ministry of Industry Trade and Labor, net diamond account, net polished exports, Net rough imports, polished exports, polished imports, polished-diamond exports, Rapaport News, rough exports, rough imports, shipments, trade data
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