JERUSALEM, Dec. 6 (Xinhua) -- The ongoing conflict with Hamas has sharply reduced Israel's volume of rough diamond imports and exports, according to a review issued by the country's Ministry of Economy and Industry on Wednesday.
Israel's imports of rough diamonds totaled 30.01 million U.S. dollars in November, a drop of 74.69 percent compared to November 2022, while exports of rough diamonds decreased by 68.16 percent to 24.41 million dollars, the figures showed.
"The effect of the conflict on the Israeli diamond industry is significant," said Ofir Gur, supervisor of diamonds at the ministry.
He noted that most of the damage was done in the first two weeks of the conflict, which broke out on Oct. 7, primarily due to transportation issues, and declines have moderated afterward in light of measures like regulatory reliefs.
Israel is one of the world's major diamond-cutting and polishing centers. The diamond trade accounted for 12.8 percent of Israel's exports last year, constituting the country's third-largest export sector. ■
