JERUSALEM (Commodity Online): Israel’s polished diamond exports fell 33 per cent to $449.9 million in September.

By volume, its exports dropped 26 per cent to 247,791.70 carats as the average price of these goods declined 10 per cent from September 2008 to $1,815.81 per carat.

Hong Kong was the strongest export destination for Israel’s polished diamonds, with $240.2 million worth sent there in September, followed by the US, Switzerland and Belgium. Exports to Hong Kong were likely boosted by Israel’s large contingent of attendees at the Hong Kong Jewellery and Gems Fair, which took place in September.

The country’s polished imports decreased 39 per cent to $256.7 million and net polished exports, the excess of exports over imports, fell 24 per cent to $193.2 million. Israel’s rough imports dropped 28 per cent to $248.9 million during the month, while by volume, the imports rose 3 per cent to 1,007 million carats.

The average price of rough imports was down 30 per cent from that of September 2008 at $247.1 per carat. Rough exports fell 36 per cent to $163.3 million and net rough imports, representing the difference between imports and exports, decreased 3 per cent to $85.6 million. Israel’s September net diamond account, measuring total exports less total imports, dropped 35 per cent to $107.6 million.

During the first nine months of the year, Israel’s polished exports declined 53 per cent to $2.6 billion. Exports to the US were down 60 per cent to $970.6 million, while to Hong Kong, exports fell 43 per cent to $757.2 million. Polished imports fell 56 per cent to $1.5 billion, while net polished exports decreased 46 per cent to $1.08 billion.

The country’s rough imports dropped 60 per cent to $1.59 billion, its rough exports fell 58 per cent to $1.26 billion and its net rough imports decreased 65 per cent to $329 million. Israel’s net diamond account for January through September fell 31 per cent to $747 million.

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