June 2002
Israel’s polished diamond exports were up by 63.5 percent in dollar value for the month of April. The sharp upward swing brought figures for the year through April to $1.77 billion, compared to $1.53 billion during the same period of 2001. This represents a 15.7 percent increase for the year so far.
Rough imports, meanwhile, were up 16.1 percent in April and rough exports rose 54.2 percent.
The positive performance in April will not be an isolated event, says industry leaders in Israel.
“The industry in Israel is back on a growth track. The healthy foundations of our industry—its expertise, flexibility , creativity—enabled us to cope with last year’s difficulties and to emerge stronger than before,” said Moshe Schnitzer, chairman of the Israel Diamond Institute.
Schnitzer noted economic growth in America, Europe and the Far East—the largest markets for Israeli goods—as signals for continued growth for Israel’s diamond industry.
