Israel Diamond Exchange
Israel Diamond Exchange
Israel imports per year raw diamonds at a value of about 5 billion dollars- this amount is about 40% of the value of the raw diamonds that are produced in the world!
The value of the Israeli export of diamonds is about 10 billion dollars per year, and 6 billion dollars out of that amount is in polished diamonds. The main export markets of Israel are the United States, Hong-Kong and Europe.
Israel is one of the biggest diamond polishing centers in the world
Beyond the fact that it is an important and leading international trade center, Israel is also a large and important center in diamond polishing- a large portion of the polished diamonds that are exported from Israel abroad (about 40%) are polished in Israel, while the rest of the diamonds are polished in other polishing centers around the world (mostly in factories that belong to Israeli diamond manufacturers and/or factories that cooperate with Israeli diamond manufacturers).
The history of Israeli diamond industry
In 1937, the first diamond polishing plant was built in Israel, and the Israeli diamond industry soon became one of the prominent industries in the Israeli economy, a known name in the world economy, and an international center of the diamond industry.
The first expression of the considerable statute Israel seized in the diamond industry was in 1956, when for the first time in its history, the international congress of the World Federation of Diamond Bourses (WFDB) was held in Israel.
From that year on, the Israeli Diamond Exchange became (and is still today) an important center in the international diamond industry, a key-player in the world industry and in the Federation, and the presidents of the Israeli Diamond Exchange are occasionally selected to key positions in the Federation and even serve as its presidents.
Where is the Israeli Diamond Exchange located?
In the 1960s, Ramat Gan was selected as the permanent and official residence of the Israeli Diamond Exchange, and in 1968, the first building of the Exchange in Ramat Gan (the Shimshon Building) was inaugurated. The Building includes 15,000 sqm of offices and commercial areas.
Since then and until today two additional buildings (Macabi and HaYaalom) were added to the center of the Diamond Exchange. These buildings are owned and managed by the Diamond Exchange’s Enterprises, and are an inseparable part of the Diamond Exchange complex.
These buildings are attached together by covered bridges, and together they are a closed and safe compound for trading in diamonds- a compound that is considered the biggest and most safe one in the world.
Later on, the Noam Building was added by an overpass (this building is under separate ownership and management). The complex of the buildings of the Diamond Exchange as they are known today includes an area of about 80,000 sqm that is composed out of 1,050 offices of diamond practitioners.
Kind of services in the Israeli Diamond complex
As part of the unique planning conception of the compound, which in its center is the idea that “all is under one roof”, the complex of the buildings of the Diamond Exchange also includes many service companies that supply the people in the industry with all of the services they need for their commercial and business activity.
Amongst the companies that operate in the compound, you can find shipping companies, branches of commercial banks, a post office, insurance companies, the office of the inspector of diamonds in the ministry of commerce and industry and a customs room. The complex also includes a synagogue, restaurants, stores, a culture room, a doctor’s room and etc.
One of the biggest Diamond Exchanges in the world
The Israeli Diamond Exchange is the biggest diamond stock exchange in the world and it operates two trading halls (polished and raw), in which an advanced and sophisticated technological wing is located. This wing includes advanced equipment to inspect diamonds.
The trading halls are equipped with the best of the technology, with advanced communication systems, with computer and internet systems and with official diamond weighing services – all of which are meant to enable the practitioners in the industry to enjoy the variety of advantages of the world’s one of the biggest diamond trade center.
Moti Israeli Diamonds is proud to be one of the Israeli Diamond Exchange members.
For further questions about diamonds in Israel, please contact us.