Recovery drives robust growth in Israel diamond trade
Israel reported substantial growth in diamond trade in the first three quarters of the year on the back of continued recovery in global markets.
Data from the Israel Ministry of Economy and Industry showed that rough diamond imports amounted to US$1.47 billion in the first three quarters of 2021, up 137 per cent from last year. Rough diamond exports meanwhile reached US$1.34 billion, an increase of 160 per cent year on year.
Polished diamond imports rose 121 per cent to US$2.1 billion while polished exports were up 49 per cent to US$2.57 billion.
In September 2021, which included the Jewish holiday season, declines were reported in two of the four trade categories. Rough diamond imports dipped 13 per cent to US$85 million and polished exports were down 42 per cent to US$197 million. Polished imports were up 38 per cent to US$214 million while rough diamond exports grew 85 per cent to US$180 million.
Arnon Juwal, chairman of the Israel Diamond Institute, commented, “The Israeli diamond industry continues to show robust recovery, demonstrating its underlying strength and flexibility. With solid demand we are seeing in the US and in Asia, we look forward to a strong holiday season and continued growth until the end of the year.”