Israeli diamond exports increase in August

The Israeli Ministry of Trade and Industry released a statement today, saying that Israel's total diamond exports in August increased by 93% compared to the same month last year, reaching $278 million.

The ministry said the total value of diamond exports in the first 8 months of this year increased 10.5% to $2.76 billion, in comparison to $2.50 billion in the same period of 1998.

Meanwhile, diamond imports increased between January to August by 32% to $2.52 billion over the same period last year, which registered $1.91 billion.

The ministry also cited an increased demand for workers in the diamond industry as additional proof of the continued revival and improvement of the diamond market in Israel.

The USA imports 64% of Israeli diamonds exports, while Hong Kong imports 12%, Belgium and Japan each import 6% and Britain imports 2%.