Malaysia: Diamond Market 2024

Diamond Market Size in Malaysia

In 2022, the Malaysian diamond market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a deep slump. Diamond consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Diamond Production in Malaysia

In value terms, diamond production fell slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a temperate 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, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Diamond Exports

Exports from Malaysia

In 2022, shipments abroad of diamonds and other precious stones (unworked) decreased by X% to X kg, falling for the third consecutive year after three years of growth. In general, exports showed a dramatic contraction. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, diamond exports shrank remarkably to $X in 2022. Over the period under review, exports showed a precipitous slump. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

South Korea (X kg) was the main destination for diamond exports from Malaysia, accounting for a X% share of total exports. Moreover, diamond exports to South Korea exceeded the volume sent to the second major destination, Thailand (X kg), twofold. The third position in this ranking was taken by Sri Lanka (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to South Korea totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and Sri Lanka (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the average diamond export price amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the export price, however, continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2014 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 2015 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 Hong Kong SAR ($X,383 per ton), while the average price for exports to India ($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 a decline.

Diamond Imports

Imports into Malaysia

In 2022, purchases abroad of diamonds and other precious stones (unworked) decreased by X% to X tons, falling for the third year in a row after four years of growth. In general, imports continue to indicate a precipitous slump. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, diamond imports dropped notably to $X in 2022. Over the period under review, imports saw a abrupt decline. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Myanmar (X tons), Thailand (X tons) and Singapore (X kg) were the main suppliers of diamond imports to Malaysia, together comprising X% of total imports.

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

In value terms, the largest diamond suppliers to Malaysia were Myanmar ($X), Thailand ($X) and Hong Kong SAR ($X), with a combined X% share of total imports.

Myanmar, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

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. Overall, the import price, however, posted buoyant growth. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X,833 per ton), while the price for South Africa ($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 more modest paces of growth.

Source: IndexBox Platform

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