Israel's Polished Exports Slump in 1Q

RAPAPORT... Israel's polished-diamond exports declined 33% to $1.16billion in the first quarter of 2018, the nation's Ministry of Economy andIndustry reported this week. By volume, outbound polished-diamond shipments fell 1% to496,783 carats after returns of goods. The average price for polished exportsdecreased 32% to $2,328 per carat. Polished imports rose 7% to $747.2 million, while netpolished exports - representing exports minus imports - dropped 60% to $409.2million. Rough trading also declined, with imports down 7% to $728.6million, while exports slid 1% to $761.3 million. Net rough imports - the excessof imports over exports - stood at negative $33 million, compared with positive$17 million a year ago. Israel's net diamond account - net polished exports minusnet rough imports - plummeted 56% to $441.9 million for the January-to-Marchperiod.Image: Traders in theIsrael Diamond Exchange. Credit: Three Photographers