JERUSALEM/SURAT (Commodity Online): Israel’s polished diamond exports climbed up for the first time in 2009 during October, posting a gain of 46 per cent to $478.3 million.

Israel’s October polished exports also comprised the largest amount sent out of the country for a given month in the past year. The country’s exports dropped significantly after the Lehman Brothers’ collapse in September 2008, as both global economies and diamond demand weakened.

Israel’s rough exports rose 41 per cent to $202.7 million as total exports of rough and polished diamonds combined grew 45 per cent to $681 million during the month. Israel’s total import of rough and polished diamonds combined increased by 7 per cent to $504.3 million in October.

The country’s October net diamond account, representing total exports less total imports, was $176.7 million, compared with a deficit of $1.8 million a year earlier.

For the first ten months of the year, Israel’s polished exports fell 47 percent to $3.1 billion, while its rough exports dropped 53 percent to $1.5 billion. Its total imports were down 54 percent to $3.6 billion. Israel's net diamond account fell 12 percent to $950.8 million for the period extending from January to October.

Surat, the world’s  largest diamond polishing centre in India, also witnessed rising demand for the sparklers as the global economy showed signs of recovery from the recession.

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