Estonia: Diamond Market 2024

Diamond Market Size in Estonia

The Estonian diamond market fell markedly to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, continues to indicate a significant expansion. Diamond consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Diamond Production in Estonia

In value terms, diamond production totaled $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. Diamond production peaked at $X in 2013; afterwards, it flattened through to 2022.

Diamond Exports

Exports from Estonia

In 2022, approx. X kg of diamonds and other precious stones (unworked) were exported from Estonia; increasing by X% compared with the previous year's figure. In general, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, diamond exports declined remarkably to $X in 2022. Overall, exports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

India (X kg) was the main destination for diamond exports from Estonia, with a X% share of total exports. Moreover, diamond exports to India exceeded the volume sent to the second major destination, France (X kg), twofold. Poland (X kg) ranked third in terms of total exports with a X% share.

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

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

From 2012 to 2022, the average annual growth rate of value to India totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (X% per year) and France (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. In general, the export price faced a sharp contraction. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Latvia ($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 Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Diamond Imports

Imports into Estonia

In 2022, approx. X tons of diamonds and other precious stones (unworked) were imported into Estonia; dropping by X% on the year before. Overall, imports, however, saw significant growth. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, diamond imports shrank sharply to $X in 2022. In general, imports, however, enjoyed pronounced growth. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X kg) constituted the largest diamond supplier to Estonia, accounting for a X% share of total imports. Moreover, diamond imports from Russia exceeded the figures recorded by the second-largest supplier, Pakistan (X kg), fourfold. China (X kg) ranked third in terms of total imports with a X% share.

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

In value terms, Russia ($X) constituted the largest supplier of diamonds and other precious stones (unworked) to Estonia, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Pakistan, with an X% share.

From 2012 to 2022, the average annual growth rate of value from Russia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Pakistan (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 showed a abrupt curtailment. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 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 India ($X per ton), while the price for Pakistan ($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 UK (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform