The Middle East and North African Trade

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Palestine Diamond Industry Shows Slight Decline in '46

During the past few months considerable difficulties have developed in the Palestinian diamond industry, which was built up during the war. In the past year 4,500 workers were employed in the industry, and exports of diamonds reached £7,000,000 in 1946, as compared with £6,000,000 in 1945.

The reason for the recent decline in the Palestinian diamond industry is to be found in the unsettled American stock market. The U. S. receives the majority of Palestine-cut diamonds. A further reason is the beginning of sharp competition on the part of European diamond exporters.

The delegates of the Executive of the Jewish Agency, Dr. Schmorah and G. Meyerson recently held a number of conferences in Tel-Aviv with leaders of the Diamond Manufacturing Association to discuss new problems faced by the industry.

Source: The Jewelers' Circular-Keystone - January 1947

Trev.