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Israel's Polished diamond exports dip in Nov ‘23

Israel's diamond industry suffered another steep decline in monthly polished diamond exports during November as the war continued in Gaza. Net polished diamond exports for November were just over $107m, according to the Ministry of Economy and Industry, a 75 per cent drop from $425m in October. Exports in September were $660m.

But year-on-year average per carat prices were far higher, and foreign sales for the month dwarf those of 2022.But year-on-year November 2023 sales were almost three times those of $37m - an unusually weak month - in November 2022. The number of carats sold was down by a third, but average prices shot up from $336 to $1,396 per carat.

Rough exports for the month were $24m, up 21 per cent on $19m the previous month, but down 68 per cent year-on-year.

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