Latin America and the Caribbean: Diamond Market 2024

Diamond Market Size in Latin America and the Caribbean

The Latin American diamond market declined dramatically to $X in 2022, falling by X% against the previous year. In general, consumption saw a deep slump. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Diamond Production in Latin America and the Caribbean

In value terms, diamond production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Diamond Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of diamonds and other precious stones (unworked) were exported in Latin America and the Caribbean; growing by X% compared with the previous year. Total exports indicated tangible 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 2018 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, diamond exports expanded significantly to $X in 2022. Total exports indicated a resilient increase 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 pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

Brazil was the key exporter of diamonds and other precious stones (unworked) in Latin America and the Caribbean, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Mexico (X tons), comprising an X% share of total exports. Guatemala (X tons), Bolivia (X tons), Colombia (X tons) and Uruguay (X tons) followed a long way behind the leaders.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of diamonds and other precious stones (unworked). At the same time, Guatemala (X%), Colombia (X%), Bolivia (X%), Uruguay (X%) and Mexico (X%) displayed positive paces of growth. Moreover, Guatemala emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Mexico (X p.p.), Guatemala (X p.p.), Colombia (X p.p.) and Bolivia (X p.p.) significantly strengthened its position in terms of the total exports, while Brazil saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest diamond supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was held by Colombia ($X), with an X% share of total exports. It was followed by Uruguay, with a X% share.

In Brazil, diamond exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Colombia (X% per year) and Uruguay (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. Export price indicated a measured increase 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. Based on 2022 figures, diamond export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while Mexico ($X per ton) was amongst the lowest.

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

Diamond Imports

Imports in Latin America and the Caribbean

Diamond imports surged to X tons in 2022, picking up by X% against the previous year's figure. In general, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, diamond imports skyrocketed to $X in 2022. Overall, imports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Brazil dominates imports structure, amounting to X tons, which was near X% of total imports in 2022. Mexico (X tons) and Argentina (X tons) held a relatively small share of total imports.

Imports into Brazil increased at an average annual rate of X% from 2012 to 2022. At the same time, Mexico (X%) and Argentina (X%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Mexico (X p.p.) significantly strengthened its position in terms of the total imports, while Brazil saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) constitutes the largest market for imported diamonds and other precious stones (unworked) in Latin America and the Caribbean, comprising X% of total imports. The second position in the ranking was taken by Mexico ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Brazil stood at X%. In the other countries, the average annual rates were as follows: Mexico (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price showed a abrupt downturn. The pace of growth appeared the most rapid in 2015 an increase of X% against the previous year. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while Argentina ($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 other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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