The Israeli Diamond Industry reported impressive growth in almost all trade parameters during 2013, according to figures published by Israel Ministry of Economy’s Diamond Controller Shmuel Mordechai.
Israel’s net polished diamond exports for 2013 rose 11.6% to $6.2 billion, compared to $5.6 billion for 2012. Israeli’s net rough diamond exports totaled $2.9 billion, compared to $2.8 billion in 2012. Net rough diamond imports rose 4.1% to US$4.0 billion, compared to US$3.8 billion in 2012.
Net imports of polished diamonds remained the same, totaling US$4.3 billion, compared to US$4.26 billion for 2012. In 2013, the increase in the export of diamonds to East Asia continued.
There is an awakening in the United States, but the Far East continues to see increases. Diamond Controller Shmuel Mordechai believes that in the coming years Israel will see a parity between exports to the United States and exports to East Asia.
The United States continued to be Israel’s major market for polished diamonds, accounting for 37.3% of the market, with net exports of US$2.3 billion. Hong Kong was the next largest market with 27% of exports or US$1.7 billion. Switzerland accounted for 9.3% with exports of $451 million and Belgium was the next largest market with 7.3% or US$380 million. India accounted for 2.3%, totaling US$145 million.