Diamond exports drop 12% in 2008

Exports of polished and rough diamonds were more than $9.5b. in 2008.

diamond biz pic 88 (photo credit: )
diamond biz pic 88
(photo credit: )
Exports of polished diamonds were down 12 percent to $6.24 billion in 2008, the Industry, Trade and Labor Ministry reported Sunday. Exports of polished and rough diamonds were more than $9.5b. in 2008. The diamond industry recorded its best year in 2007, when exports of polished and rough diamonds exceeded $12b. As the global financial crisis hit the diamond industry in the fourth quarter, imports of polished diamonds for the year fell 4% to $4.38b. Rough-diamond imports fell 12% to $4.48b., while rough-diamond exports were down 2% to $3.31b.