Tanzania: Diamond Market 2024

Diamond Market Size in Tanzania

The Tanzanian diamond market dropped dramatically to $X in 2022, falling by X% against the previous year. Overall, consumption, however, continues to indicate a prominent expansion. Diamond consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Diamond Production in Tanzania

In value terms, diamond production fell to $X in 2022 estimated in export price. Overall, production saw a perceptible increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Diamond production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Diamond Exports

Exports from Tanzania

In 2022, overseas shipments of diamonds and other precious stones (unworked) were finally on the rise to reach X tons after three years of decline. Overall, exports, however, continue to indicate a mild slump. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, diamond exports skyrocketed to $X in 2022. In general, exports posted a mild increase. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X tons) was the main destination for diamond exports from Tanzania, with a X% share of total exports. Moreover, diamond exports to Belgium exceeded the volume sent to the second major destination, China (X tons), fourfold. India (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and India (X% per year).

In value terms, Belgium ($X) emerged as the key foreign market for diamonds and other precious stones (unworked) exports from Tanzania, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Belgium amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and India (X% per year).

Export Prices by Country

In 2022, the average diamond export price amounted to $X per ton, rising by X% against the previous year. In general, the export price showed a noticeable increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 Belgium ($X per ton), while the average price for exports to Qatar ($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 more modest paces of growth.

Diamond Imports

Imports into Tanzania

After three years of growth, supplies from abroad of diamonds and other precious stones (unworked) decreased by X% to X kg in 2022. Over the period under review, imports saw a dramatic setback. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, diamond imports shrank significantly to $X in 2022. Overall, imports continue to indicate a significant curtailment. The pace of growth was the most pronounced in 2015 with an increase of X%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

India (X kg), Zambia (X kg) and Israel (X kg) were the main suppliers of diamond imports to Tanzania, with a combined X% share of total imports.

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

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

From 2012 to 2022, the average annual rate of growth in terms of value from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Zambia (X% per year) and Israel (X% per year).

Import Prices by Country

In 2022, the average diamond import price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price recorded a precipitous slump. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum 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 supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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