Israel’s diamond exports fell by more than 40% in 2009

According to data released by Mordechai, the diamond trade supervisor of the Ministry of Industry, Trade and Labor of Israel, the Israeli diamond industry became the industry most hit by the financial crisis in 2009. The annual net export of rough diamonds plummeted from 3.31 billion US dollars last year. 1.9 billion US dollars, a drop of 42.9%, polished diamond net exports also fell from 3.42 billion US dollars in 2008 to 3.92 billion US dollars, a decrease of 37.1%. In 2009, Israel’s net import of rough diamonds was US$2.5 billion, down 44.2% from US$4.47 billion in the previous year, and net imports of polished diamonds were US$2.5 billion, down 42.5% from US$4.3 billion in the previous year.

According to relevant experts, the impact of the international financial crisis on consumption power is the main reason for the sharp decline in the diamond trade in Israel. As the world economy gradually picks up, the international diamond trade will gradually become active. In the fourth quarter of 2009, diamond exports have experienced the first quarterly increase since the international financial crisis. The current international market has reached the pre-crisis level of rough diamond prices, while polished diamonds The price is still lagging behind. Industry insiders worry that the price hikes of non-polished diamond suppliers may cause a new round of crisis in the diamond industry.

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