Iceland: Diamond Market Overview 2020

Diamond Market Size in Iceland

The revenue of the diamond market in Iceland amounted to $X in 2018, dropping by -X% against the previous year. In general, diamond consumption continues to indicate a deep slump. The most prominent rate of growth was recorded in 2009 with an increase of X% year-to-year. Over the period under review, the diamond market reached its maximum level at $X in 2012; however, from 2013 to 2018, consumption failed to regain its momentum.

Diamond Production in Iceland

In value terms, diamond production stood at $X in 2018 estimated in export prices. Over the period under review, diamond production, however, continues to indicate an extraordinary increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. In that year, diamond production reached its peak level of $X, and then declined slightly in the following year.

Diamond Exports

Exports from Iceland

In 2018, the amount of diamonds and other precious stones (unworked) exported from Iceland totaled X tonnes, dropping by -X% against the previous year. Over the period under review, diamond exports, however, continue to indicate an outstanding increase. The most prominent rate of growth was recorded in 2017 with an increase of X% year-to-year. In that year, diamond exports reached their peak of X tonnes, and then declined slightly in the following year.

In value terms, diamond exports amounted to $X in 2018. Overall, diamond exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2012 when exports increased by X% year-to-year. Over the period under review, diamond exports attained their peak figure in 2018 and are likely to see steady growth in the immediate term.

Exports by Country

In 2018, Brazil (X tonnes), Uruguay (X tonnes), China, Hong Kong SAR (X tonnes), Madagascar (X tonnes) and South Africa (X tonnes) were the major exporters of diamonds and other precious stones (unworked) in the world, mixing up X% of total export. Mozambique (X tonnes) occupied the next position in the ranking, followed by Myanmar (X tonnes). All these countries together occupied approx. X% share of total exports. The following exporters - Mexico (X tonnes), India (X tonnes) and Singapore (X tonnes) - together made up X% of total exports.

From 2007 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by India, while the other leaders experienced more modest paces of growth.

In value terms, the largest diamond markets from Iceland were China, Hong Kong SAR ($X), India ($X) and South Africa ($X), with a combined X% share of total exports. These countries were followed by Singapore, Myanmar, Brazil, Mozambique, Madagascar, Uruguay, Mexico and Iceland, which together accounted for a further X experienced the highest rates of growth with regard to exports, among the main exporting countries over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The diamond export price in Iceland stood at $X per tonne in 2018, growing by X% against the previous year. Over the period under review, the diamond export price, however, continues to indicate a precipitous reduction. The most prominent rate of growth was recorded in 2008 an increase of X% year-to-year. Iceland export price peaked at $X per tonne in 2010; however, from 2011 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was India ($X per tonne), while Uruguay ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Myanmar, while the other leaders experienced mixed trends in the export price figures.

Diamond Imports

Imports into Iceland

In 2018, the diamond imports into Iceland amounted to X kg, going up by X% against the previous year. Over the period under review, diamond imports, however, continue to indicate a moderate reduction. The growth pace was the most rapid in 2018 with an increase of X% y-o-y. Over the period under review, diamond imports attained their maximum at X tonnes in 2012; however, from 2013 to 2018, imports remained at a lower figure.

In value terms, diamond imports totaled $X in 2018. In general, diamond imports, however, continue to indicate a precipitous shrinkage. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. In that year, diamond imports attained their peak of $X. From 2011 to 2018, the growth of diamond imports failed to regain its momentum.

Imports by Country

China prevails in diamond imports structure, reaching X tonnes, which was approx. X% of total imports in 2018. It was distantly followed by China, Hong Kong SAR (X tonnes) and India (X tonnes), together constituting a X% share of total imports. The U.S. (X tonnes), Brazil (X tonnes), Thailand (X tonnes) and South Africa (X tonnes) followed a long way behind the leaders.

From 2007 to 2018, average annual rates of growth with regard to diamond imports into China stood at -X%. At the same time, India (+X%), Brazil (+X%) and South Africa (+X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer in the world, with a CAGR of +X% from 2007-2018. By contrast, the U.S. (-X%), Thailand (-X%) and China, Hong Kong SAR (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of India and Brazil increased by +X% and +X% percentage points, while China, Hong Kong SAR (-X p.p.) and China (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported diamonds and other precious stones (unworked) into Iceland, comprising X% of global imports. The second position in the ranking was occupied by China, Hong Kong SAR ($X), with a X% share of global imports. It was followed by China, with a X% share.

From 2007 to 2018, the average annual growth rate of value in India stood at +X%. In the other countries, the average annual rates were as follows: China, Hong Kong SAR (+X% per year) and China (-X% per year).

Import Prices by Country

The diamond import price in Iceland stood at $X per tonne in 2018, falling by -X% against the previous year. In general, the diamond import price continues to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2010 when the import price increased by X% year-to-year. Over the period under review, the import prices for diamonds and other precious stones (unworked) reached their maximum at $X per tonne in 2008; however, from 2009 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was India ($X per tonne), while Brazil ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, Hong Kong SAR, while the other leaders experienced more modest paces of growth.

Source: IndexBox AI Platform