Polish comes off diamond exports

Exports of polished diamonds have plunged 56.7 percent since the beginning of the year.

April 2, 2009 07:20
diamond 88

diamond 88. (photo credit: )


Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Exports of polished diamonds have plunged 56.7 percent since the beginning of the year, year-on-year. "The first quarter of this year points to a large decline in exports and imports of polished and rough diamonds in Israel and other countries as a result of the economic crisis," Shmuel Mordechai, the supervisor of diamonds at the Industry, Trade and Labor Ministry, said Wednesday. In the first quarter, exports of polished diamonds fell 56.7% to $935 million, from $2.1 billion during the same quarter last year. Imports of polished diamonds fell 61.5% to $408m., from just over $1b. a year earlier. Exports of rough diamonds declined 70.9% to $318m. in the first quarter, from $1b. during the same quarter last year. Imports of rough diamonds plunged 78.9% to $278m., from $1.3b. a year before. Since the economic crises hit the industry in the third quarter of last year, demand for rough diamonds has fallen dramatically. In recent months, diamond dealers have cut back their purchases because of a drop in sales and a lack of available credit.

Related Content

The Teva Pharmaceutical Industries
April 30, 2015
Teva doubles down on Mylan, despite rejection