Ramat Gan: The Israeli Diamond Industry (IDI) continued its impressive grown in the first quarter of 2022. The first quarter of 2022 continued the positive trend recorded in the diamond industry over the past year.

In Q1 total net imports of rough diamonds to Israel amounted to about $ 494 mn, an increase of 4% compared to the same period last year. Net rough diamond exports during Q1 amounted to $ 526 mn, an increase of 35% over the first quarter of 2021. In March there was an increase of 11% compared to March last year.

Total net polished diamond imports in the first quarter of the year totaled $ 942 mn, an increase of 45% compared to the corresponding quarter in 2021, while in March alone there was an increase of 13% compared to March last year. Total net polished diamond exports reached $ 1.3 bn. In March 2022 there was an increase of 105% compared to March last year.

In the past month, exports of rough diamonds to the United Arab Emirates amounted to $ 24 mn, which constitutes about 14% of Israel’s total rough diamond exports in March. During this month, roughly $ 18.5 mn worth of rough diamonds were imported to Israel from the United Arab Emirates, which is 9% of the total rough diamonds imported into Israel in March.