Croatia: Diamond Market 2023

Diamond Market Size in Croatia

The Croatian diamond market contracted modestly to $X in 2021, flattening at the previous year. In general, consumption recorded a deep contraction. Diamond consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Diamond Production in Croatia

In value terms, diamond production reached $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 0.5% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Diamond Exports

Exports from Croatia

Diamond exports from Croatia reached X kg in 2019, surging by 15% compared with 2018. Over the period under review, exports saw a strong expansion. The growth pace was the most rapid in 2016 with an increase of 609%. Over the period under review, the exports attained the peak figure in 2019 and are expected to retain growth in the near future.

In value terms, diamond exports skyrocketed to $X in 2019. Overall, exports, however, recorded a deep setback. The pace of growth was the most pronounced in 2016 when exports increased by 919% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2019, the exports remained at a lower figure.

Exports by Country

Slovenia (X kg) was the main destination for diamond exports from Croatia, with a 81% share of total exports. Moreover, diamond exports to Slovenia exceeded the volume sent to the second major destination, Hungary (X kg), sixfold. Serbia (X kg) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2019, the average annual growth rate of volume to Slovenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+14.5% per year) and Serbia (-22.6% per year).

In value terms, Slovenia ($X) emerged as the key foreign market for diamonds and other precious stones (unworked) exports from Croatia, comprising 75% of total exports. The second position in the ranking was taken by Hungary ($X), with a 19% share of total exports. It was followed by Serbia, with a 6.3% share.

From 2012 to 2019, the average annual rate of growth in terms of value to Slovenia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+14.2% per year) and Serbia (-27.2% per year).

Export Prices by Country

In 2019, the average diamond export price amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the export price, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2016 an increase of 46%. The export price peaked at $X per ton in 2012; however, from 2013 to 2019, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was Serbia ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+16.9%), while the prices for the other major destinations experienced a decline.

Diamond Imports

Imports into Croatia

Diamond imports into Croatia shrank sharply to X kg in 2021, waning by -16.7% compared with the previous year's figure. Over the period under review, imports faced a dramatic setback. The growth pace was the most rapid in 2018 with an increase of 1,791% against the previous year. Over the period under review, imports hit record highs at X kg in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, diamond imports skyrocketed to $X in 2021. Overall, imports faced a abrupt contraction. The pace of growth was the most pronounced in 2018 when imports increased by 647%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X kg) constituted the largest diamond supplier to Croatia, with a 47% share of total imports. Moreover, diamond imports from China exceeded the figures recorded by the second-largest supplier, Tanzania (X kg), fourfold. The Czech Republic (X kg) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled -25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Tanzania (0.0% per year) and the Czech Republic (-34.5% per year).

In value terms, Italy ($X) constituted the largest supplier of diamonds and other precious stones (unworked) to Croatia, comprising 62% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by Kenya, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Italy totaled +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-15.8% per year) and Kenya (0.0% per year).

Import Prices by Country

In 2021, the average diamond import price amounted to $X per ton, growing by 342% against the previous year. In general, the import price enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 an increase of 350%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+941.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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