Ramat Gan: Polished diamond exports from Israel fell by just over a fifth in the year 2015 from US$6,267 billion in 2014 to US$4,996 billion in 2005, according to figures released by Israel’s Diamond Controller.

Net rough diamond exports from Israel were worth US$2,196 billion in 2015, marking a 28.3% decrease from rough diamond exports of US$3,061 billion in 2014.

Israel’s net polished diamond imports in 2015 amounted to US$3,480 billion compared to US$4,516 billion in 2014, representing a decrease of 22.9%.

Net rough diamond imports in 2015 amounted to US$2,781 billion compared to US$4,023 billion in 2014, representing a decrease of 30.9%.

The United States continues as main destination market for Israel’s net polished diamond exports, constituting about 40% of the market at US$2,001 billion. The United States is followed by Hong Kong, with a 27% share at US$1,350 billion, Belgium, with a 9% share at US$415 billion, Switzerland with a 7% share at US$362 billion, England with a 3% share at US$158 billion, while the rest of the world has a 14% share at US$710 billion.

Israel’s Diamond Controller Shmuel Mordechai attributes the global crisis in the diamond industry to falling demand in the US and China coupled with challenging rough and polished diamond prices. Mordechai notes that these trends have affected the Israeli Diamond Industry more moderately than other diamond centers.

Mordechai also adds that the 2015 Christmas period represented a significant change and an improvement in the global trade of the diamond industry.