Latin America and the Caribbean: Diamond Market 2024

Diamond Market Size in Latin America and the Caribbean

The Latin American diamond market fell sharply to $X in 2022, waning by X% against the previous year. Overall, consumption saw a abrupt downturn. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Diamond Production in Latin America and the Caribbean

In value terms, diamond production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production saw a noticeable descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Diamond Exports

Exports in Latin America and the Caribbean

In 2022, the amount of diamonds and other precious stones (unworked) exported in Latin America and the Caribbean expanded notably to X tons, picking up by X% compared with 2021 figures. 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 2018 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the near future.

In value terms, diamond exports rose significantly to $X in 2022. Total exports indicated a resilient 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 was the most pronounced in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

Brazil was the key exporter of diamonds and other precious stones (unworked) in Latin America and the Caribbean, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Mexico (X tons), constituting an X% share of total exports. Guatemala (X tons), Bolivia (X tons), Colombia (X tons) and Uruguay (X tons) took a little share of total exports.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of diamonds and other precious stones (unworked). At the same time, Guatemala (X%), Colombia (X%), Bolivia (X%), Uruguay (X%) and Mexico (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Mexico (X p.p.), Guatemala (X p.p.), Colombia (X p.p.) and Bolivia (X p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest diamond supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Colombia ($X), with an X% share of total exports. It was followed by Uruguay, with a X% share.

In Brazil, diamond exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Colombia (X% per year) and Uruguay (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, with an increase of X% against the previous year. Export price indicated a tangible increase from 2012 to 2022: its price 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, diamond export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Colombia ($X per ton), while Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (X%), while the other leaders experienced more modest paces of growth.

Diamond Imports

Imports in Latin America and the Caribbean

In 2022, approx. X tons of diamonds and other precious stones (unworked) were imported in Latin America and the Caribbean; with an increase of X% compared with 2021 figures. Overall, imports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, diamond imports surged to $X in 2022. In general, imports, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Brazil dominates imports structure, recording X tons, which was approx. X% of total imports in 2022. Mexico (X tons) and Argentina (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to diamond imports into Brazil stood at X%. At the same time, Mexico (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. While the share of Mexico (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Brazil (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported diamonds and other precious stones (unworked) in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was held by Mexico ($X), with a X% share of total imports.

In Brazil, diamond imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Mexico (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price faced a abrupt decline. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Mexico ($X per ton), while Argentina ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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