Diamond Steep Decline in Israel’s Polished Exports
Israel’s diamond industry suffered another steep decline in monthly polished diamond exports during November as the war continued in Gaza. But year-on-year average per carat prices were far higher, and foreign sales for the month dwarf those of 2022. Net polished diamond exports for November were just over $107m, according to the Ministry of Economy and Industry, a 75 per cent drop from $425m in October. Exports in September were $660m.
But year-on-year November 2023 sales were almost three times those of $37m – an unusually weak month – in November 2022. The number of carats sold was down by a third, but average prices shot up from $336 to $1,396 per carat. Rough exports for the month were $24m, up 21 per cent on $19m the previous month, but down 68 per cent year-on-year.
Credit: IDEX John Jeffay
Posted by: SGDX Singapore Diamond Exchange
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