Malaysia: Diamond Market 2024

Diamond Market Size in Malaysia

In 2022, the Malaysian diamond market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, recorded a abrupt decline. Diamond consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Diamond Production in Malaysia

In value terms, diamond production reduced to $X in 2022 estimated in export price. In general, the total production indicated measured growth 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, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. Diamond production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Diamond Exports

Exports from Malaysia

In 2022, overseas shipments of diamonds and other precious stones (unworked) decreased by X% to X kg, falling for the third year in a row after three years of growth. In general, exports showed a precipitous shrinkage. The growth pace was the most rapid in 2017 with an increase of X%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, diamond exports fell significantly to $X in 2022. Over the period under review, exports continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X kg) was the main destination for diamond exports from Malaysia, with a X% share of total exports. Moreover, diamond exports to South Korea exceeded the volume sent to the second major destination, Thailand (X kg), twofold. The third position in this ranking was taken by Sri Lanka (X kg), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to South Korea stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Sri Lanka (X% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for diamonds and other precious stones (unworked) exports from Malaysia, comprising X% of total exports. The second position in the ranking was held by Thailand ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Hong Kong SAR totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the average diamond export price amounted to $X per ton, reducing by X% against the previous year. Overall, the export price, however, posted strong growth. The growth pace was the most rapid in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X,383 per ton), while the average price for exports to India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced a decline.

Diamond Imports

Imports into Malaysia

In 2022, purchases abroad of diamonds and other precious stones (unworked) decreased by X% to X tons, falling for the third year in a row after four years of growth. In general, imports saw a dramatic descent. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, diamond imports fell rapidly to $X in 2022. Overall, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Myanmar (X tons), Thailand (X tons) and Singapore (X kg) were the main suppliers of diamond imports to Malaysia, together comprising X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Myanmar (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, Myanmar ($X), Thailand ($X) and Hong Kong SAR ($X) constituted the largest diamond suppliers to Malaysia, together accounting for X% of total imports.

Among the main suppliers, Myanmar, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average diamond import price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price, however, continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2017 an increase of X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X,833 per ton), while the price for South Africa ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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