Russian Federation: Diamond Market 2024

Diamond Market Size in the Russian Federation

The Russian diamond market skyrocketed to $X in 2022, growing by X% against the previous year. Overall, consumption showed pronounced growth. Diamond consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Diamond Production in the Russian Federation

In value terms, diamond production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 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.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Diamond Exports

Exports from the Russian Federation

In 2022, the amount of diamonds and other precious stones (unworked) exported from Russia declined markedly to X tons, waning by X% compared with the previous year. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then shrank rapidly in the following year.

In value terms, diamond exports shrank to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons), Belgium (X tons) and the United Arab Emirates (X tons) were the main destinations of diamond exports from Russia, with a combined X% share of total exports. Hong Kong SAR, Belarus and Israel lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for diamond exported from Russia were Belgium ($X), India ($X) and the United Arab Emirates ($X), together accounting for X% of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average diamond export price stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Israel ($X per ton), while the average price for exports to Belarus ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Diamond Imports

Imports into the Russian Federation

In 2022, approx. X tons of diamonds and other precious stones (unworked) were imported into Russia; waning by X% against the previous year's figure. Overall, imports saw a abrupt slump. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, diamond imports shrank significantly to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Democratic Republic of the Congo (X tons) constituted the largest supplier of diamond to Russia, with a X% share of total imports. Moreover, diamond imports from Democratic Republic of the Congo exceeded the figures recorded by the second-largest supplier, Brazil (X tons), fivefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Democratic Republic of the Congo totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Armenia (X% per year).

In value terms, Armenia ($X) constituted the largest supplier of diamonds and other precious stones (unworked) to Russia, comprising X% of total imports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Armenia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Democratic Republic of the Congo (X% per year) and Brazil (X% per year).

Import Prices by Country

The average diamond import price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price, however, recorded a buoyant expansion. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, average import prices attained the peak figure at $X,978 per ton in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 Armenia ($X,053 per ton), while the price for Democratic Republic of the Congo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :