Israel releases list of top diamond exporters

The annual list of Israel’s largest polished diamond exporters was published by the Israel Diamond Controller’s Office in the Ministry of Industry, Trade and Labor, with L.L.D. Diamonds Ltd., owned by Lev Leviev, emerging once again as the top exporter with $417 million worth of exports in 2008. Following L.L.D. was Leo Schachter Ltd. with $352 million, A. Dalumi Diamonds with $182 million, Espeka Diamonds International Ltd. with $159 million; and Yerushalmi Bros. with $150 million exports in fifth place.

Israel Diamond Controller Shmuel Mordechai affirmed that net polished exports of the top 25 exporters totaled $2.567 billion, accounting for 41 percent of Israel’s total net polished diamonds. He also said that the list of 25 does not include 17 companies, who chose not to publish their export figures.

Following the fifth highest exporter, was A.A. Rachminov Ltd., sixth in place with $141 million in polished diamond exports, PDD Diamonds with $121 million in exports, M.I.D. House of Diamonds Ltd. with $111 million exports, Niru Diamonds Israel (1987) Ltd. with $91 million and SN Asia (Israel) Ltd. with $86 million, worth of exports.

All the mentioned exporters experienced a drop in their polished exports in 2008, reflecting the trend that was experienced throughout the industry. Israel’s total polished exports stood at $6.240 billion in 2008, a drop of 12 percent over 2007 when they totaled $7.075 billion.

IDI Managing Director Eli Avidar said, “Especially in these trying times, IDI applauds the achievements of all of the industry’s exporters. IDI continues to put its resources to work in promoting exports in traditional and developing markets -- to the benefit of Israeli diamantaires large and small.”

Moti Ganz, Chairman of the Israel Diamond Institute Group of Companies (IDI) and President of the Israel Diamond Manufacturers Association (IsDMA) and the International Diamond Manufacturers Association (IDMA), said that despite the drop in exports this year, the Israeli Diamond Industry would maintain its leading position within the world industry. “The Israeli Diamond Industry is working hard to find ways to succeed in these difficult conditions. I am confident that we will see the fruits of these efforts in the near future.” Ganz noted that the major diamond exporters have made an important contribution to the Israeli Diamond Industry, as well as to Israel’s economy. However, he said, that the strength of Israel’s diamond industry is based on a broad spectrum of industry members – manufacturers, exporters and traders.