Middle East: Diamond Market 2024

Diamond Market Size in the Middle East

In 2022, the Middle Eastern diamond market increased by X% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a buoyant expansion 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, consumption increased by X% against 2020 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Diamond Production in the Middle East

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 most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Diamond Exports

Exports in the Middle East

In 2022, exports of diamonds and other precious stones (unworked) in the Middle East surged to X tons, growing by X% compared with 2021. In general, exports posted buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, diamond exports rose rapidly to $X in 2022. Total exports indicated a prominent 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 with an increase of X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Exports by Country

The United Arab Emirates prevails in exports structure, recording X tons, which was approx. X% of total exports in 2022. Lebanon (X tons) held a minor share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Lebanon (X%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Lebanon (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest diamond supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Lebanon ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, dropping by X% against the previous year. In general, the export price continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Lebanon stood at $X per ton.

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

Diamond Imports

Imports in the Middle East

In 2022, diamond imports in the Middle East skyrocketed to X tons, rising by X% compared with 2021 figures. In general, imports enjoyed a significant expansion. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, diamond imports rose sharply to $X in 2022. Total imports indicated a buoyant 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was approx. X% of total imports in 2022. Lebanon (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the diamonds and other precious stones (unworked) imports, with a CAGR of X% from 2012 to 2022. At the same time, Lebanon (X%) displayed positive paces of growth. While the share of the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported diamonds and other precious stones (unworked) in the Middle East, comprising X% of total imports. The second position in the ranking was held by Lebanon ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled X%.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price recorded a abrupt slump. The pace of growth appeared the most rapid in 2014 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Lebanon ($X per ton), while the United Arab Emirates amounted to $X per ton.

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

Source: IndexBox Platform

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