Diamond exports up 50% in 2010

By GLOBES
January 3, 2011 16:32

 
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The Diamond, Precious Stones and Jewelry Administration reports that polished diamond exports rose nearly 50% in 2010, and that rough diamond exports rose 62%. Supervisor of Diamonds Shmuel Mordechai reported that polished diamond exports rose 48.1% to $5.9 billion in 2010 from $3.9 billion in 2009, and that rough diamond exports rose to $3 billion from $1.9 billion.

"2010 was a year of recovery in everything, in both the import and export of rough and polished diamonds. The growth in 2010 is substantial compared with 2008, but is still 6.5% compared with the 2007 figures. Past achievements have not yet been repeated, but we're definitely heading in the right direction. There is a strong chance that we'll reach the targets of 2007 or 2008 in 2011 or 2012," said Mordechai.

Most Israeli diamond exports go to the US; rough and polished diamond exports to the US totaled $2.4 billion in 2010.

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