Signs of recovery for Israel’s diamond trade

Israel's net polished diamond exports stood at US$4.34 billion
 
Trade figures for the first nine months of 2012 show that Israel’s third quarter diamond trade figures point to signs of recovery.
 
The report published by the Ministry of Industry, Trade and Labor Diamond Controller Shmuel Mordechai, show that Israel’s net polished diamond exports were US$4.34 billion for the first three quarters of the year, compared to US$5.83 billion for the same period last year, a decline of 25.6%.
 
Mordechai said that the dramatic decrease in diamond exports and imports in the second quarter of 2012 seems to have been stemmed, and there are early signs of increased trade activity. Net rough diamond exports totaled US$2.07 billion for the first nine months of 2012, compared to US$2.98 billion, a 30.6% decrease. Net imports of rough diamonds were US$2.65 billion, compared to US$3.514 billion for the same period last year, a 24.7 % drop. Net polished imports stood at US$3.08 billion, 26.1 % less than in the first three quarters of 2011, when they totaled US$4.17 billon.