Israel’s polished diamond exports jumped by 11.5 per cent to US$827.6 million in the first quarter of 2021 compared to the same period last year, reflecting continued recovery in the country’s diamond sector after the onslaught of the coronavirus crisis. 

Data from the Israel Ministry of Economy showed that exports of rough diamonds rose by 66.3 per cent to US$389.8 million compared to 2020 figures while rough imports reached US$476 million, up by 75.6 per cent.

Polished imports were also on the upswing, recording a 60.9 per cent year-on-year increase to US$646.6 million.

Israel Diamond Exchange President Boaz Moldawsky commented, “The current data show that the industry is on the right path and we expect the trend to continue during the next quarter as well.”

“In the past year, we have worked hard to stabilise the industry, preserve the trade and sustain our members. Despite the pandemic, we have been able to strengthen our trade ties around the world and even form new ones, within the framework of the peace agreements, with markets such as Dubai, which has helped us expand our activity,” he continued.