Asia: Diamond Market 2024

Diamond Market Size in Asia

In 2022, the Asian diamond market decreased by X% to $X.2B, falling for the second year in a row after four years of growth. In general, consumption, however, recorded a deep downturn. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Diamond Production in Asia

In value terms, diamond production fell modestly to $X.5B in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The level of production peaked at $X.3B in 2018; however, from 2019 to 2022, production remained at a lower figure.

Diamond Exports

Exports in Asia

In 2022, diamond exports in Asia surged to X tons, rising by X% against the year before. Over the period under review, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, diamond exports reached $X in 2022. Total exports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

The United Arab Emirates dominates exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Armenia (X tons) and Singapore (X tons), together generating a X% share of total exports. The following exporters - India (X tons) and Lebanon (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to diamond exports from the United Arab Emirates stood at X%. At the same time, Singapore (X%), Armenia (X%), India (X%) and Lebanon (X%) displayed positive paces of growth. Moreover, Singapore emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. While the share of Singapore (X p.p.), Armenia (X p.p.) and India (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest diamond supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Singapore ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Singapore (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price showed a deep contraction. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while Armenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the export price figures.

Diamond Imports

Imports in Asia

Diamond imports soared to X tons in 2022, picking up by X% against the previous year. Over the period under review, imports enjoyed resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, diamond imports rose remarkably to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

The United Arab Emirates (X tons) and China (X tons) prevails in imports structure, together generating X% of total imports. Lebanon (X tons) held a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported diamonds and other precious stones (unworked) in Asia, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports.

In the United Arab Emirates, diamond imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (X% per year) and Lebanon (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the import price saw a deep reduction. The pace of growth was the most pronounced in 2016 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Lebanon ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lebanon (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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