2016 Israel's total exports of polished diamonds declined this year, although the situation improved somewhat in December.

According to a report by the Ministry of National Economy and Industry, this year’s outbound shipments of polished diamonds have declined. 6.4% To 46.8 hundreds of millions of dollars. As its largest trading partner, the United States has seen a decline in its export volume. 9% To 20 hundreds of millions of dollars, while exports to Hong Kong declined. 8% To 13.5 hundreds of millions of dollars. Meanwhile, orders from Belgium have plummeted. 16% , only for 3.49 hundred million dollars.

Imports of polished diamonds declined. 6% To 32.8 hundreds of millions of dollars. The total net export volume of polished diamonds declined. 8% To 13.9 hundred million dollars.

Despite the entire 2016 Trading activity throughout the year showed a downward, slowing trend, but the first signs of recovery began to appear at the end of this year. Shmuel Mordechai (The Israeli diamond dispatcher) said. He also added that the agreement reached in December between the industry and the Israeli tax authorities would help improve the current situation.

The raw stone trade showed a relatively positive trend, with imports increasing. 17% To reach 32.5 Hundreds of millions of dollars. Export volume of raw stones surges. 23% To 27 hundreds of millions of dollars, causing its net imports to decline. 7% To 5.44 hundred million dollars.

Israel’s net diamond account—the difference between the net import of rough diamonds and the net export of polished diamonds—has declined this year. 8% For 8.49 hundred million dollars.

Source: RAPAPORT