Rough diamond exports from Israel continued to rise, increasing 27.1% in November 2005 to reach $297.2 million, compared to $233.8 million in the same period last year. From January to November they rose 24.6% to total $3.378 billion, as compared to $2.711 billion for the same period in 2004.

Net imports of rough diamonds increased by 26.9% in November 2005, and totalled $460.7 million, as compared to $363.2 million in November 2004. During the first eleven months of the year rough diamond imports increased by 4.5%, reaching $4.950 billion, as compared to $4.735 billion for the same period in 2004.

Israel’s imports of polished diamonds increased by 8% in November 2005, reaching $355.9 million, as compared to $329.6 million in the same month last year. From January to November net imports of polished diamonds rose 9.1% to $3.423 billion, up from $3.139 billion in the same period in 2004.

For the first eleven months of the year, polished exports to the U.S. declined 2%, but rose by 18% to Hong Kong, 9% to Belgium, 66% to Switzerland and 3% to Japan.  The major export markets for Israel’s polished diamonds in November were the United States with 63%, Hong Kong 11%, Belgium 10%, Switzerland 3% and Japan 2%.

Israel Diamond Institute (IDI) Chairman Simcha Lustig said that polished diamond exports this year were in line with industry expectations. “Due to international conditions, demand for polished diamonds did not meet the high expectations we had at the beginning of the year.  Nevertheless, through intensive marketing efforts led by IDI, we have been able to achieve a moderate rise in exports -- which we consider a significant achievement,” he said.