(PRESS RELEASE)RAMAT GAN, ISRAEL — Figures released by the Israel Diamond Controller for the first half of 2022 show that the positive trend in the diamond industry continued. All four major trade categories reported growth from January to June 2022, continuing the upward trend of the past 18 months.
In the first half of the year, net imports of rough diamonds to Israel amounted to $1.01 billion, an increase of 1.4% over the same period last year. Net rough diamond exports during that period totaled $966 million, an increase of 6.4% compared to the first half of 2021.
Net polished diamond imports in the first half of the year amounted to $1.78 billion, an increase of 28.7% compared to the corresponding half in 2021. Net polished diamond exports amounted to $2.23 billion, an increase of 30% compared to the first half of 2021.
In the past month, exports of rough diamonds to the United Arab Emirates amounted to about $36 million, which constitutes about 19% of Israel’s total rough diamond exports in June. During this month, approximately $64 million worth of rough diamonds were imported from the UAE, which is about 30% of the total rough diamonds imported into Israel in June.
Israel Diamond Exchange President Boaz Moldawsky said, “We are very pleased to see the continued positive trend in the Israeli diamond industry, despite the challenges we are facing due to the war in Ukraine and economic uncertainty in our major markets. We will continue our intensive efforts on behalf of the Israeli diamond industry and hope that the second half of the year will show continued growth in the major parameters.”
Honoring a Legacy: How Smith & Son Jewelers Exceeded Every Goal With Wilkerson
When Andrew Smith decided to close the Springfield, Massachusetts location of Smith & Son Jewelers, the decision came down to family. His father was retiring after 72 years in the business, and Andrew wanted to spend more time with his children and soon-to-arrive grandchildren.
For this fourth-generation jeweler whose great-grandfather founded the company in 1918, closing the 107-year-old Springfield location required the right partner. Smith chose Wilkerson, and the experience exceeded expectations from start to finish.
"Everything they told me was 100% true," Smith says. "The ease and use of all their tools was wonderful."
The consultants' knowledge and expertise proved invaluable. Smith and his father set their own financial goal, but Wilkerson proposed three more ambitious targets. "We thought we would never make it," Smith explains. "We were dead wrong. We hit our first goal, second goal and third goal. It was amazing."
Smith's recommendation is emphatic: "I would never be able to do what they did by myself."
