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Israeli Diamond Industry Celebrates 70th Birthday.
Israel’s diamond industry celebrated its 70th anniversary of the Israeli Diamond Exchange on Sunday evening.
Industry professionals, leaders and members of government gathered in Tel Aviv to pay homage to the local industry, which predates the creation of the State of Israel, and has grown to an $11 billion annual trade.
Israel’s diamond industry has been adversely affected in the past few months as the economy in the U.S., its largest export market, has faltered, and the market for larger cut stones declined. Israel is renowned for its specialization in polishing larger stones. The country’s rough imports fell 53 percent in October and polished exports dropped 46 percent.
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