Israel Polished Diamond Exports Rebound On US, China Demand

The Israeli diamond industry continued its impressive growth during July 2021, with major rises in all parameters, according to the latest report published by the Israel Diamond Controller in Israel’s Ministry of Economy and Industry.

Net import of polished diamonds in the first seven months of the year totalled $1.63 billion, a rise of 145% over the same period in 2020. Net exports of polished diamonds in that period were $2.02 billion, an increase of 69% over the same period last year.

Total net rough imports from January to July 2021 stood at $1.15 billion, a rise of 158% over the same period in 2020. Total net exports of rough diamonds during that time rose 229% over the same period last year, reaching $1.05 billion.

During July net rough exports to the UAE amounted to $15.5 million, 11% of Israel’s total rough exports during the month. Net rough imports from the UAE during July totalled $23 million, about 15% of the total imported to Israel during the month. Israel Diamond Institute Managing Director Aviel Elia said that he was pleased with the continued growth and optimistic for the rest of the year. “We have seen major growth during this year and we can be proud of the quick recovery of the Israeli diamond industry. I believe that the industry will continue its growth trend, led by active demand for diamonds in the United States and China,” Elia noted.

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