Net polished diamond imports during the quarter reached $835 million compared with $407 million in the first three months of 2009, marking an increase of 105%.

Israel's net rough diamond exports amounted to $832 million in the first quarter of this year, compared with $315 million in the comparable quarter of 2009, marking an increase of 164%.

The country's net imports of rough diamonds during the quarter reached $917 million, representing an increase of 234% from rough imports worth $274 million in the first quarter of 2009.

"Despite the large increase in exports and imports of diamonds in the first quarter of 2010 compared to 2009, when comparing 2010 to 2008 there is an average fall of 27%. Even if the recovery trend continues, we are still quite a long way from the positive activity of 2007 and the first three quarters of 2008," says Shmuel Mordechai, Diamond Controller of Israel's Ministry of Industry, Trade and Labor.

United States, accounting for nearly half (47%) of Israel's gross polished diamond exports during the quarter, continues to be the main market for the diamonds, followed by Hong Kong at 27%, Switzerland at 8%, Belgium at 7%, and the UK at 2%