Israel Exports Up 21%; IDI Group Heads to New York

September 8, 2004

Israel Exports Up 21%; IDI Group Heads to New York

Israel's diamond industry showed significant growth in August and in the first eight months of 2004, according to statistics reported by the Israel Ministry of Industry, Trade & Labor's Diamond Controller, Shmuel Mordechai. Net exports of polished diamonds from Israel rose 21.1% to reach $402.5 million, compared to $332.3 million in August 2003. During the first eight months of the year net polished exports grew 21.2%, reaching $4.327 billion, compared to $3.570 billion in the same period in 2003.

The major export markets for Israel's polished diamonds in August were the U.S. with 71%, Hong Kong 12%, Belgium 8%, England 2% and Switzerland 2%. Since the beginning of the year exports to the U.S. rose 19%, to Hong Kong 47%, Belgium 17%, England 47% and Switzerland 3%.

The Israel Diamond Institute is leading industry participation in a new trade fair for diamonds – Diamonds by JCK 2004. The event will take place Sept. 12-13 at Pier 94 in New York City. The event is intended to showcase loose diamond manufacturers and dealers. In addition to the participants from Israel, diamond suppliers from Belgium, Canada, Hong Kong and the U.S. will be exhibiting. Attending the show will be high-end retailers, wholesalers and diamond jewelry manufacturers who are seeking sources for loose stones.

Twenty-eight Israeli companies will be participating in this first-time event, most of them located in the Israel aisle. The Israel Diamond Institute, situated at Booth 108, will be promoting the industry, advising buyers about their individual needs and coordinating public relations activities. IDI will also sponsor a welcome cocktail reception on Sept. 12 from 6-7:30 p.m. It's the only networking event during the show.

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