Middle East: Diamond Market 2024

Diamond Market Size in the Middle East

In 2022, the Middle Eastern diamond market increased by X% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a buoyant expansion 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, consumption increased by X% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in the near future.

Diamond Production in the Middle East

In value terms, diamond production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid 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 somewhat lower figure.

Diamond Exports

Exports in the Middle East

In 2022, diamond exports in the Middle East skyrocketed to X tons, rising by X% compared with the year before. In general, exports posted a buoyant increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, diamond exports rose markedly 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 appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

The United Arab Emirates dominates exports structure, recording X tons, which was near X% of total exports in 2022. Lebanon (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Lebanon (X%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Lebanon increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest diamond supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Lebanon ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, falling by X% against the previous year. In general, the export price saw a pronounced contraction. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Lebanon totaled $X per ton.

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

Diamond Imports

Imports in the Middle East

For the third year in a row, the Middle East recorded growth in purchases abroad of diamonds and other precious stones (unworked), which increased by X% to X tons in 2022. In general, imports recorded a significant increase. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, diamond imports amounted to $X in 2022. Total imports indicated a strong expansion 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, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

The United Arab Emirates dominates imports structure, accounting for X tons, which was near X% of total imports in 2022. Lebanon (X tons) took a relatively small share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the diamonds and other precious stones (unworked) imports, with a CAGR of X% from 2012 to 2022. At the same time, Lebanon (X%) displayed positive paces of growth. While the share of the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported diamonds and other precious stones (unworked) in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Lebanon ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, with a decrease of X% against the previous year. In general, the import price showed a deep setback. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Lebanon ($X per ton), while the United Arab Emirates totaled $X per ton.

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

Source: IndexBox Platform

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