Despite the slowdown in activity in the fourth quarter of 2011, the Israeli Diamond Industry concluded the year with double-digit growth in exports and imports, according to a statement by IDI e-mailed to Rough&Polished. Net polished exports rose 23.5 percent to $7.2 billion, bringing polished exports back to the level of 2007. Net rough exports increased 15 percent to $3.5 billion, net polished imports jumped 35 percent to $5.7 billion and net rough imports grew 17.5 percent to $4.4 billion.
Israel’s two main polished export markets in 2011 were the United States with 39 percent ($2.8 billion), followed by Hong Kong with 26 percent ($1.9 billion).
Moti Ganz, Chairman of the Israel Diamond Institute (IDI) said that the Israeli industry showed record growth in the first three quarters of 2011 that was offset by the global slowdown later in the year.
Trading activity in Ramat Gan during December was steady as buyers geared up for the Christmas-New Year season. Towards the end of the month there was a steady stream of last-minute demand from the United States. Asian demand was also up in anticipation the Chinese New Year. On the whole Israeli traders were pleased with the Christmas season, but expressed concern about the weak trading in the other diamond centers.
During December the Israeli Diamond Industry participated in the new UBM Mumbai Jewellery & Gem Fair with a national pavilion hosting 16 diamond companies. In January, the Israeli industry kicked off the New Year at the IIJS Signature Show in Mumbai with 16 Israeli companies.
IDI sources said that the Israeli Diamond Industry views India as a key market. IDI Managing Director Eli Avidar said that IDI is organizing national pavilions in three trade shows in India annually in order to offer industry members more opportunities to meet the Indian market. “IDI is committed to enhancing trade connections with the Indian diamond industry,” he said.
Tatiana Alexandrova, Rough&Polished, Moscow
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