Angola: Diamond Market 2024

Diamond Market Size in Angola

In 2022, the Angolan diamond market decreased by X% to $X, falling for the second consecutive year after three years of growth. In general, consumption showed a noticeable contraction. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Diamond Production in Angola

In value terms, diamond production rose slightly 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; however, the trend pattern indicated some 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%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Diamond Exports

Exports from Angola

In 2022, overseas shipments of diamonds and other precious stones (unworked) increased by X% to X tons, rising for the second year in a row after three years of decline. In general, exports showed strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, diamond exports soared to $X in 2022. Overall, total exports indicated buoyant 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

The United Arab Emirates (X tons) was the main destination for diamond exports from Angola, accounting for a X% share of total exports. Moreover, diamond exports to the United Arab Emirates exceeded the volume sent to the second major destination, Belgium (X tons), twofold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Hong Kong SAR (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the average diamond export price amounted to $X per ton, dropping by X% against the previous year. Overall, the export price showed a deep setback. The growth pace was the most rapid in 2013 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Russia ($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 Russia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Diamond Imports

Imports into Angola

In 2022, supplies from abroad of diamonds and other precious stones (unworked) decreased by X% to X tons for the first time since 2013, thus ending a eight-year rising trend. Over the period under review, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then fell markedly in the following year.

In value terms, diamond imports surged to $X in 2022. In general, imports, however, posted significant growth. The pace of growth was the most pronounced in 2017 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Portugal (X tons) constituted the largest supplier of diamond to Angola, accounting for a X% share of total imports. Moreover, diamond imports from Portugal exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from Portugal amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Namibia (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to X.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Namibia (X% per year) and Portugal (X% per year).

Import Prices by Country

The average diamond import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price enjoyed significant growth. The pace of growth was the most pronounced in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United Arab Emirates ($X,334 per ton), while the price for Portugal ($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 United Arab Emirates (X.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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