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Israel polished exports decline

Israel’s diamond trade declined in July as demand remained weak across global markets.

Polished exports fell 31% year on year to $203.6 million, the country’s Ministry of Economy and Industry reported earlier this month. The volume of exports rose 13% to 149,441 carats, with the average price slumping 39% to $1,363 per carat. The government reports data on a net basis, meaning returned goods are excluded.

“The continued global downward trend in the diamond trade is evident again in the data for the month of July,” said Ophir Gore, Israel’s diamond controller, who regulates the sector. “The declines in Israel are in line with what is happening in the global industry.”

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