Iran: Diamond Market 2024

Diamond Market Size in Iran

The Iranian diamond market dropped remarkably to $X in 2022, with a decrease of X% against the previous year. In general, consumption, however, showed a resilient increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Diamond Production in Iran

In value terms, diamond production reduced to $X in 2022 estimated in export price. In general, production, however, posted prominent growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by X,400% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Diamond Exports

Exports from Iran

In 2022, the amount of diamonds and other precious stones (unworked) exported from Iran surged to X tons, picking up by X% against the previous year's figure. Over the period under review, exports enjoyed a notable increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, diamond exports skyrocketed to $X in 2022. In general, exports, however, continue to indicate a deep setback. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for diamond exports from Iran, with a X% share of total exports. Moreover, diamond exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, China (X tons), sixfold.

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

In value terms, Taiwan (Chinese) ($X), India ($X) and China ($X) constituted the largest markets for diamond exported from Iran worldwide, with a combined X% share of total exports.

India, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average diamond export price amounted to $X per ton, falling by X% against the previous year. Overall, the export price faced a deep reduction. The growth pace was the most rapid in 2013 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average 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 ($X per ton), while the average price for exports to China ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced a decline.

Diamond Imports

Imports into Iran

In 2022, after four years of decline, there was significant growth in purchases abroad of diamonds and other precious stones (unworked), when their volume increased by X% to X kg. Overall, imports, however, continue to indicate a significant decline. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, diamond imports surged to $X in 2022. Over the period under review, imports, however, faced a abrupt curtailment. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Madagascar (X kg) constituted the largest supplier of diamond to Iran, accounting for a X% share of total imports. Moreover, diamond imports from Madagascar exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X kg), fourfold. The third position in this ranking was held by India (X kg), with a X% share.

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

In value terms, the United Arab Emirates ($X) constituted the largest supplier of diamonds and other precious stones (unworked) to Iran, comprising X% of total imports. The second position in the ranking was held by Madagascar ($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 the United Arab Emirates stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Madagascar (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the average diamond import price amounted to $X per ton, with an increase of X% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price 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. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, 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 Brazil ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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