Israel Diamond Industry Enjoys Rare Growth

Israel’s polished diamond exports bounced back in the first quarter as orders from Switzerland and the US grew during the period.

Outbound polished shipments jumped 16% to $1.7 billion in the January-to-March period, according to the nation’s Ministry of Industry, Trade and Labor. The increase was only the third positive quarter for polished exports out of the past two-and-a-half years, according to Rapaport calculations. 

Switzerland was the largest export market for the Israeli trade, with shipments rising significantly to $535.1 million during a quarter that included the annual Baselworld show. Exports to the US increased 3.5% to $513.9 million.