CIS: Diamond Market 2024

Diamond Market Size in CIS

The CIS diamond market soared to $X in 2022, rising by X% against the previous year. Over the period under review, consumption recorded a noticeable increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Diamond Production in CIS

In value terms, diamond production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Diamond Exports

Exports in CIS

Diamond exports reduced to X tons in 2022, shrinking by X% on the year before. Total exports indicated a temperate increase from 2012 to 2022: its volume 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 growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, diamond exports fell to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Russia (X tons) was the main exporter of diamonds and other precious stones (unworked), mixing up X% of total exports. It was distantly followed by Armenia (X tons), achieving a X% share of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of diamonds and other precious stones (unworked). At the same time, Armenia (X%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of X% from 2012-2022. While the share of Armenia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (X p.p.) displayed negative dynamics.

In value terms, Russia ($X) remains the largest diamond supplier in the CIS, comprising X% of total exports. The second position in the ranking was held by Armenia ($X), with a X% share of total exports.

In Russia, diamond exports remained relatively stable over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in the CIS amounted to $X per ton, declining by X% against the previous year. Overall, the export price recorded a perceptible curtailment. The pace of growth was the most pronounced in 2013 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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

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

Diamond Imports

Imports in CIS

In 2022, supplies from abroad of diamonds and other precious stones (unworked) decreased by X% to X tons, falling for the fourth year in a row after two years of growth. Overall, imports saw a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, diamond imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a moderate expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Belarus was the major importing country with an import of about X tons, which accounted for X% of total imports. Kazakhstan (X tons) ranks second in terms of the total imports with a X% share, followed by Russia (X%). Armenia (X tons) took a minor share of total imports.

From 2012 to 2022, the biggest increases were recorded for Armenia (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Armenia ($X) constitutes the largest market for imported diamonds and other precious stones (unworked) in the CIS, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports. It was followed by Belarus, with a X% share.

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

Import Prices by Country

The import price in the CIS stood at $X,759 per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price enjoyed a significant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Armenia ($X,082 per ton), while Kazakhstan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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