RAPAPORT… Israel’s diamond trade recorded sharp growth in April as the industry recovered from last year’s downturn, government data showed.
Polished exports after returns skyrocketed 735% versus the same period of 2020, when many countries were in lockdown and the supply chain froze, according to figures the Ministry of Economy and Industry released Monday.
Polished imports jumped 512%. Rough exports rose by a factor of almost 21, while rough imports increased almost 13 times over.
In the first four months of 2021, polished exports grew 31% year on year to around $1.15 billion, the government added. Polished imports surged 96% to approximately $855 million, with rough exports climbing 116% to $522 million, and rough imports rising 112% to $594 million.
The consistency of Israel’s growth data indicates that “the local industry is spearheading the global diamond sector’s recovery,” even after adjusting for the favorable comparison with the Covid-19 crisis, said Ophir Gore, Israel’s diamond controller.
Image: The Israel Diamond Exchange. (Rapaport News)
Israel’s Polished Exports Soar
The Bottom Line
- Polished diamond exports in April 2021 surged 735% compared to April 2020, reflecting recovery from pandemic disruptions.
- Year-to-date polished exports increased 31% to $1.15 billion, while polished imports rose 96% to $855 million.
- Rough diamond exports and imports also saw substantial growth, rising 116% and 112% respectively in the first four months of 2021.
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