Shmuel Mordechai, Director of the Diamond, Gemstone and Jewelry Administration at the Ministry of Economy and Industry: “The drop in demand in the European and Hong Kong markets are the primary reason for the recent drop in our exports”

The Diamond, Gemstone and Jewelry Administration at the Ministry of Economy and Industry announces its year-end figures for 2015. Net polished diamond exports for 2015 totaled $4,996 billion, as opposed to $6,267 billion in 2014 – a drop of 20.3%. Net rough diamond exports for 2015 totaled $2,196 billion, as opposed to $3,061 billion in 2014 – a drop of 28.3%. Net polished diamond imports for 2015 totaled $3,480 billion, as opposed to $4,516 billion in 2014 – a drop of 22.9%. Net rough diamond imports for 2015 totaled $2,781 billion, as opposed to $4,023 billion in 2014 – a drop of 30.9%.

Director of the Diamond, Gemstone and Jewelry Administration Shmuel Mordechai notes that during 2015 there was a world crisis in the diamond industry due to a drop in demand in the United States and China, and an anomaly in price levels due to a rise in the price of rough diamonds and a drop in the price of polished diamonds. Mordechai emphasizes that these trends have affected the world diamond industries and not passed over the Israeli diamond industry – although in a more moderate fashion that in other diamond centers.

It should be noted that there was a clear change in the trend and an improvement in world trade in the diamond industry during the Christmas season of 2015.