Israel’s net exports of polished diamonds totaled $5.83 billion from January through September—up 37.1 percent from last year—according to figures published by the Israel Ministry of Industry, Trade and Labor.

The country’s net rough diamond exports increased 31.8 percent to $2.98 billion. Israel’s net imports of polished diamonds rose 48.8 percent to $4.17 billion in the first three quarters of 2011. Net rough diamond imports totaled $3.52 billion, an increase of 35 percent.

“The impressive recovery of the Israeli diamond industry is the result of very hard work on the part of the industry,” said Moti Ganz, chairman of the Israel Diamond Institute Group of Companies, in a statement. “Despite the current uncertainty I am very hopeful that the full year figures will continue this positive trend.”

The United States remained Israel’s largest market consuming polished diamond exports of $2.13 billion or 37 percent of total exports. Hong Kong accounted for $1.71 billion, Belgium $471 million, Switzerland $338 million, Thailand $114 million, and the rest of the world $1.07 billion.

JCK