Australia: Diamond Market 2024

Diamond Market Size in Australia

For the third year in a row, the Australian diamond market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption enjoyed a buoyant expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Diamond Production in Australia

In value terms, diamond production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Diamond production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Diamond Exports

Exports from Australia

After five years of decline, overseas shipments of diamonds and other precious stones (unworked) increased by X% to X tons in 2022. Over the period under review, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, diamond exports skyrocketed to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for diamond exports from Australia, with a X% share of total exports. Moreover, diamond exports to India exceeded the volume sent to the second major destination, the United States (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a X% share.

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

In value terms, the United Arab Emirates ($X) remains the key foreign market for diamonds and other precious stones (unworked) exports from Australia, comprising X% of total exports. The second position in the ranking was taken by Thailand ($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: Thailand (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

The average diamond export price stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price faced a abrupt shrinkage. The growth pace was the most rapid in 2020 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 2021 to 2022, the average export prices remained at a somewhat 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 the United Arab Emirates ($X per ton), while the average price for exports to India ($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 Australia

In 2022, purchases abroad of diamonds and other precious stones (unworked) increased by X% to X tons, rising for the third year in a row after two years of decline. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, diamond imports soared to $X in 2022. Overall, imports posted a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Canada (X tons) constituted the largest supplier of diamond to Australia, accounting for a X% share of total imports. Moreover, diamond imports from Canada exceeded the figures recorded by the second-largest supplier, Brazil (X tons), threefold. 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 from Canada totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (X% per year) and Hong Kong SAR (X% per year).

In value terms, Canada ($X) constituted the largest supplier of diamonds and other precious stones (unworked) to Australia, comprising X% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (X% per year) and Brazil (X% per year).

Import Prices by Country

The average diamond import price stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the import price, however, recorded a temperate expansion. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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 Belgium ($X per ton), while the price for Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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