Israel's Polished Diamond Exports Rose 6.4% in March 2006

Since the beginning of 2006, net polished diamond exports decreased by 2.6% and reached $1.901 billion. net rough imports declined by 15%
 
Net polished diamond exports from Israel rose 6.4% in March 2006, reaching $672.0 million, compared to $631.6 million in March 2005, according to statistics released by the Israel Ministry of Industry, Trade and Labor's Diamond Controller, Shmuel Mordechai. Since the beginning of 2006, net polished diamond exports decreased by 2.6% to reach $1.901 billion, compared to $1.952 billion during the same period in 2005.
 
Net imports of rough diamonds in March 2006 decreased by 31.0% to total $331.5 million, as compared to $480.7 million in March 2005. From the beginning of the year net rough imports declined by 15.0%, reaching $1.114 billion compared to $1.310 billion in the same period of 2005. Net rough diamond exports from Israel declined by 3.8% and stood at $262.1 million in March 2006, compared to $272.3 million in March 2005. For January - March 2006 rough exports were down 15.0%, totalling $769.8 million, compared to $906.1 million in the same period last year.
 
Israel's net imports of polished diamonds increased 3.3% in March 2006, totalling $349.8 million, compared to $338.5 million in the same month last year. Since the beginning of 2006 net polished imports rose by 2.8% to total $921.1 million, compared to $896.1 million in the same period of 2005.
 
The major export markets for Israel's polished diamonds in February were the United States with 57%, Hong Kong 14%, Switzerland 11%, Belgium 7% and China 2%.
 
Israel Diamond Institute Chairman Simcha Lustig expressed satisfaction at the figures for March, which showed a rise in polished exports and imports, after declines in the first two months of 2006. "I believe that the figures for March spell a turnaround for the Israeli diamond industry, and I look forward to positive results for the remainder of the year," he said. Lustig also said that IDI was devoted to assisting the Israeli industry in increasing its exports, through a multipronged marketing program. He cited the launching of the new brand identity last week in Basel as an important component of this program. IDI is engaged in a comprehensive image campaign under the slogan "The Israeli Diamond Industry - All You Could Ask for in One."