polished diamond exports in 2018: $ 4,483 billion

Net polished diamond exports totaled $ 4,483 billion in 2018, compared to $ 3,044 billion in the same period last year.
Net rough diamond exports totaled $ 2,253 billion in 2018, compared with $ 2,656 billion in imports.
According to Danny Tal, Director of the Import Administration and Diamond Controller of the Ministry of Economics and Industry, in 2018, the Ministry of Economy and Industry launched a special program to support diamond merchants, which enables diamond traders to receive dollar credit from a state-guaranteed fund and launched a marketing support program of approximately NIS 3 million. branch.
Tal said that in light of the challenges of the industry and the strengthening of competition mainly from the United States, India, Hong Kong and Belgium in the areas of diamond polishing and trade, in 2018, regulatory easing was extended to diamond dealers, allowing them to expand their non-realized export returns and to make purchases after the diamond examination. This process enables traders to realize their relative advantage, professional knowledge and business connections in world trade.
Yoram Diamond, president of the Diamond Exchange: "After a few years of severe crisis in the diamond industry, we have recently felt a surge in optimism and hope for the future of the diamond industry in 2018. In fact, I am very pleased that the sharp decline in exports has stopped and the signs that the industry is moving to a better era, and I hope that the situation in 2019 will only improve. "
In recent years, from 2011 to 2017, the diamond industry has experienced a significant decline in the scope of its activity and in 2018, for the first time in many years, the volume of trade stabilized. The extension of the exploration period contributed to a 4.1% increase in imports of polished diamonds compared to 2017. Rough diamond exports rose by 1.1% while exports of polished diamonds fell by 2.5%.