According to updated data published by the diamond controller of the Ministry of Economy, net polished exports from Israel in the first quarter of 2015 amounted to 1.61 billion dollars, compared with 2.288 billion dollars for the same period last year, a decrease of 29, 6%. The drop in exports is due to the return of a large number of stones from the trading of diamond jewelry exhibitions and the restructuring of warehouse stocks from retailers, IsraelDiamondIndustry reported.
Net exports of rough diamonds amounted to $ 694 million, compared to $ 905 million in the same period last year, a decrease of 23.3%. Net diamond imports decreased by 18.4% to $ 827 million, compared to $ 1.014 billion for the same period in 2014.
The net import of diamonds was $ 904 million, compared to $ 1.029 billion for the same period in 2014, a decrease of 12.2%.
As Israeli diamond controller Shmuel Mordechai noted, although the first quarter of 2015 was marked by a drop in both imports and exports of rough diamonds and diamonds, this can be explained by the return of goods from Hong Kong and Basel, as well as the restructuring of stocks in accordance with with changes in demand.
The US continues to be the largest market for Israel, since the beginning of the year it accounted for 39% of the total gross exports of Israeli diamonds. The second largest market is Hong Kong (33%), followed by Switzerland (13%), Belgium (7%), England (2%) and other countries (6%).