ASEAN: Diamond Market 2024

Diamond Market Size in ASEAN

In 2022, the ASEAN diamond market decreased by X% to $X.8B, falling for the second year in a row after four years of growth. In general, consumption, however, continues to indicate a abrupt slump. The level of consumption peaked at $X.3B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Diamond Production in ASEAN

In value terms, diamond production reduced slightly to $X.4B in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production reached the peak level of $X.7B. From 2019 to 2022, production growth remained at a lower figure.

Diamond Exports

Exports in ASEAN

In 2022, shipments abroad of diamonds and other precious stones (unworked) increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2014 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, diamond exports skyrocketed to $X in 2022. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Singapore prevails in exports structure, reaching X tons, which was near X% of total exports in 2022. Thailand (X tons) followed a long way behind the leaders.

Singapore was also the fastest-growing in terms of the diamonds and other precious stones (unworked) exports, with a CAGR of X% from 2012 to 2022. Thailand (X%) illustrated a downward trend over the same period. Singapore (X p.p.) significantly strengthened its position in terms of the total exports, while Thailand saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Singapore ($X) remains the largest diamond supplier in ASEAN, comprising X% of total exports. The second position in the ranking was taken by Thailand ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Singapore stood at X%.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Singapore amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%).

Diamond Imports

Imports in ASEAN

In 2022, diamond imports in ASEAN soared to X tons, growing by X% against the previous year's figure. Overall, imports posted a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, diamond imports surged to $X in 2022. Over the period under review, imports saw a resilient increase. The growth pace was the most rapid in 2013 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Thailand represented the key importer of diamonds and other precious stones (unworked) in ASEAN, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Vietnam (X tons) ranks second in terms of the total imports with a X% share, followed by Lao People's Democratic Republic (X%). Singapore (X tons) and Cambodia (X tons) held a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cambodia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) constitutes the largest market for imported diamonds and other precious stones (unworked) in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Thailand ($X), with a X% share of total imports. It was followed by Cambodia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Singapore totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Cambodia (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price, however, enjoyed a mild increase. The pace of growth appeared the most rapid in 2014 when the import price increased by X%. Over the period under review, import prices hit record highs at $X,265 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X,265 per ton), while Vietnam ($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 a decline in the import price figures.

Source: IndexBox Platform

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