Double digit growth for Israel’s diamond exports in 2011

As reported in Port2Port:

Israel’s total net polished diamond exports increased 23.5% in 2011 over 2010, reaching US$7.2 billion

The Israeli Diamond Industry reported last week that it concluded 2011 with 23.5% growth in exports.

This was achieved despite a slowdown in activity reported in the global diamond industry in the fourth quarter of 2011.

Israel’s total net polished diamond exports increased 23.5% in 2011 over 2010, reaching US$7.2 billion. Net exports of rough diamonds rose 14.9% for the year to US$3.5 billion. Net imports of polished diamonds in 2011 jumped 34.7% to US$5.7 billion while net imports of rough diamonds were up 17.5% over 2010 to US$4.4 billion.

The United States remained Israel’s major export market for polished diamonds, with 39% of the total. This was followed by Hong Kong 26%, Switzerland 6%, India 5%, United Kingdom 3% and the rest of the world 21%.

Net polished exports to the US stood at US$2.8 billion, Hong Kong US$1.9 billion, Switzerland US$420 million, India US$341 million and the UK US$205 million.