Israel’s polished diamond exports reached US$4.48 billion in 2018 on the back of slight improvements in the global market, according to the Israeli Ministry of Economy. 

Government data also showed that polished diamond imports totalled US$3.04 billion while rough diamond exports and imports hit US$2.25 billion and US$2.66 billion, respectively.

Israel Diamond Exchange President Yoram Dvash noted that diamond exports in 2018 also saw a slight increase due to changes in the method of measurement.  

He further commented, “After several challenging years, we are beginning to see early signs of recovery and we are cautiously optimistic about the future. I’m glad that the decrease in polished exports has stopped, and indications point to a better year in 2019.”

The US accounted for 48 percent of Israel’s polished diamond exports market, followed by Hong Kong (28 percent), Switzerland (8 percent), Belgium (7 percent), the UK (3 percent) and other countries (6 percent).