The Israeli diamond industry experienced double-digit growth in exports and imports in 2011, according to statistics by the country’s Ministry of Industry, Trade, and Labor. Israel’s net polished diamond exports increased by about 23% and its net export of rough diamonds increased by about 15% in 2011. Its net imports of polished diamonds rose by about 34% and its import of rough diamonds was up by about 18%. According to the International Diamond Exchange, the average price of polished diamonds has increased by about 20 percent since 2007.

 Israel’s major export markets are the United States, Hong Kong, Switzerland, and the United Kingdom.

“The year 2011 began with record growth in the first three quarters in all parameters, balanced out to some degree by a worldwide slowdown later in the year. In 2011 we have exceeded our polished diamond export figures of 2007, which stood at $7.1 billion before the start of the economic crisis. This is clear testimony to the strength and vitality of the Israeli Diamond Industry,” said Moti Ganz, Chariman of the Israel Diamond Institute.

The Israeli Diamond Industry (IDI)  started the new year at the The India International Jewellery Show (IIJS) in Mumbai, India, that took place from January 6 - 9. The show is an important indicator of diamond market success and sixteen Israeli companies exhibited at the show.

“India is a key market for the global diamond industry and for Israel especially,” said former IDI Chairman Moti Ganz.