Israel does not have any significant natural diamond mines, yet diamonds, particularly cut and polished stones have long been among the country’s largest export sectors.
Instead of mining, Israel’s diamond industry focuses on trading, cutting, polishing and finishing high-value stones a global business that made the country a major diamond center in the late 20th and early 21st centuries.
Israeli firms import rough diamonds from producers in Africa and elsewhere, process them, and then export the finished gems to markets in Europe, the United States and Asia.
Although the volume of diamond exports has declined from its peak decades ago due to shifts in global markets and competition from other cutting centers, polished diamonds remain a significant part of Israel’s export economy and have historically ranked at or near the top in export value.
Economists note that Israel’s diamond trade success reflects the strength of its jewellery and precision manufacturing sectors, as well as its longstanding commercial networks in international markets.