Africa: Diamond Market 2024

Diamond Market Size in Africa

The African diamond market was estimated at $X.6B in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X.7B in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Diamond Production in Africa

In value terms, diamond production reached $X.5B 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 only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production attained the peak level of $X.5B. From 2021 to 2022, production growth failed to regain momentum.

Diamond Exports

Exports in Africa

For the fourth consecutive year, Africa recorded growth in overseas shipments of diamonds and other precious stones (unworked), which increased by X% to X tons in 2022. Over the period under review, exports saw a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, diamond exports amounted to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Angola (X tons) represented the major exporter of diamonds and other precious stones (unworked), comprising X% of total exports. Mozambique (X tons) took the second position in the ranking, distantly followed by South Africa (X tons), Lesotho (X tons) and Zambia (X tons). All these countries together took approx. X% share of total exports. Democratic Republic of the Congo (X tons) held a relatively small share of total exports.

Exports from Angola increased at an average annual rate of X% from 2012 to 2022. At the same time, Mozambique (X%), Zambia (X%), Lesotho (X%) and South Africa (X%) displayed positive paces of growth. Moreover, Mozambique emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. Democratic Republic of the Congo experienced a relatively flat trend pattern. While the share of Mozambique (X p.p.), Angola (X p.p.), Zambia (X p.p.) and Lesotho (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Democratic Republic of the Congo (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Angola ($X) remains the largest diamond supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by South Africa ($X), with a X% share of total exports. It was followed by Lesotho, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Angola stood at X%. In the other countries, the average annual rates were as follows: South Africa (X% per year) and Lesotho (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, reducing by X% against the previous year. In general, the export price continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 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 South Africa ($X per ton), while Mozambique ($X per ton) was amongst the lowest.

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

Diamond Imports

Imports in Africa

After two years of growth, purchases abroad of diamonds and other precious stones (unworked) decreased by X% to X tons in 2022. Over the period under review, imports, however, recorded a resilient increase. The growth pace was the most rapid in 2014 when imports increased by X%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, diamond imports fell dramatically to $X in 2022. In general, imports showed a slight downturn. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

South Africa dominates imports structure, reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Zambia (X tons), committing a X% share of total imports.

Imports into South Africa increased at an average annual rate of X% from 2012 to 2022. At the same time, Zambia (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing importer imported in Africa, with a CAGR of X% from 2012-2022. Zambia (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

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

In South Africa, diamond imports increased at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per kg, with a decrease of X% against the previous year. In general, the import price saw a deep setback. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. Over the period under review, import prices reached the peak figure at $X per kg in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 South Africa ($X per kg), while Zambia totaled $X per kg.

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

Source: IndexBox Platform

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