International News
US Watch and jewelry sales remain steady in March, overall increase of 0.4 percent
US Watch and jewelry sales remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures. Jewelry sales rose slightly, while
Watch and jewelry sales in the US remained steady in March, with a slight overall increase of 0.4 per cent, according to the latest US Department of Commerce figures. Jewelry sales rose slightly, while watch sales dipped, as consumers opted for higher-priced items, but bought fewer of them.
In February overall sales increased by just 0.2 per cent and in January they fell by 1.0 per cent
The US government’s BEA (Bureau of Economic Analysis) reported a 0.7 per cent increase in consumer spending in March, the biggest increase for two years, but said it was largely driven by a rush to buy cars before US reciprocal tariffs forced prices up.
Watch and jewelry sales have been characterized by very modest increases in recent months, following on from a year of sustained growth – 10 per cent or more in some months – as shown below.
Reciprocal US tariffs – announced in April, then paused until July – will almost certainly hit sales, as producers forced to either absorb the costs or pass them on to consumers.
International News
Israel’s Diamond Industry Hits Record Lows
From January To June 2026, Israel Exported Only $2.4 Billion In Diamonds. At Its Peak In 2015, That Figure Was Around $7 Billion—More Than Three Times Higher.
Israel’s diamond exports have dropped dramatically to their lowest levels in history. Reflecting these difficult times, the head of the Israel Diamond Exchange has announced his resignation.
Key Numbers
- Massive Drop in Exports: From January to June 2026, Israel exported only $2.4 billion in diamonds. At its peak in 2015, that figure was around $7 billion—more than three times higher.
- Total Trade Shrinking: Total industry trade (combining imports and exports) fell to $4 billion, down from $12 billion during its best years.
Why Is the Industry Struggling?
- Competition from Dubai: Dubai has become a major global diamond hub, drawing traders away from Israel with lower tax rates.
- Lab-Grown Diamonds: Man-made diamonds are significantly cheaper than natural ones, taking away a large portion of the market.
- New U.S. Tariffs: A new 10% import tax on diamonds was recently introduced by U.S. President Donald Trump. Since the U.S. buys about 20% of Israel’s diamond exports, this tax hits the local industry hard.
- Shifting Consumer Habits: Younger buyers are spending more money on experiences rather than luxury jewelry. Additionally, diamond demand in China has slowed down significantly.
Global Impact & What’s Next
The downturn isn’t just affecting Israel; it is a global issue. Even De Beers—one of the world’s biggest diamond companies—has been put up for sale for the first time ever.
Despite these setbacks, Israel still holds key advantages in the market, such as strong client relationships and deep expertise in cutting large, rare, and colored diamonds. Israeli officials are currently negotiating with the U.S. to lower the new tariffs and working with their own government for tax relief to help the industry bounce back.
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