CIS: Diamond Market 2024

Diamond Market Size in CIS

The CIS diamond market soared to $X in 2022, growing by X% against the previous year. Over the period under review, consumption continues to indicate a notable increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Diamond Production in CIS

In value terms, diamond production reached $X 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 relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Diamond Exports

Exports in CIS

Diamond exports shrank to X tons in 2022, waning by X% compared with 2021. Total exports indicated moderate growth from 2012 to 2022: its volume 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 pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, diamond exports reduced to $X in 2022. In general, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Russia represented the major exporter of diamonds and other precious stones (unworked) in the CIS, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Armenia (X tons), making up a X% share of total exports.

Russia experienced a relatively flat trend pattern with regard to volume of exports of diamonds and other precious stones (unworked). At the same time, Armenia (X%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of X% from 2012-2022. Armenia (X p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Russia ($X) remains the largest diamond supplier in the CIS, comprising X% of total exports. The second position in the ranking was taken by Armenia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Russia was relatively modest.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a pronounced descent. The pace of growth appeared the most rapid in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Russia ($X per ton), while Armenia totaled $X per ton.

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

Diamond Imports

Imports in CIS

In 2022, supplies from abroad of diamonds and other precious stones (unworked) decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. In general, imports continue to indicate a abrupt descent. 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 hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, diamond imports soared to $X in 2022. Overall, imports, however, showed a tangible increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Belarus was the main importer of diamonds and other precious stones (unworked) in the CIS, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Kazakhstan (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Russia (X%). Armenia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Armenia (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

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

In Armenia, diamond imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Russia (X% per year) and Belarus (X% per year).

Import Prices by Country

In 2022, the import price in the CIS amounted to $X,759 per ton, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a significant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Armenia ($X,082 per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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