Sri Lanka: Diamond Market 2024

Diamond Market Size in Sri Lanka

The Sri Lankan diamond market amounted to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Diamond Production in Sri Lanka

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% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. Diamond production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Diamond Exports

Exports from Sri Lanka

In 2022, approx. X tons of diamonds and other precious stones (unworked) were exported from Sri Lanka; shrinking by X% against the previous year. In general, exports saw a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, diamond exports contracted to $X in 2022. Over the period under review, exports recorded a drastic downturn. 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 hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Israel (X tons), Belgium (X tons) and India (X tons) were the main destinations of diamond exports from Sri Lanka, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by India (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for diamond exported from Sri Lanka were Israel ($X), Belgium ($X) and India ($X), 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 more modest paces of growth.

Export Prices by Country

The average diamond export price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of 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.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X,222 per ton), while the average price for exports to the United Arab Emirates ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Diamond Imports

Imports into Sri Lanka

In 2022, diamond imports into Sri Lanka expanded sharply to X tons, picking up by X% on the previous year's figure. Overall, imports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, diamond imports soared to $X in 2022. Over the period under review, imports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons), Israel (X tons) and Belgium (X tons) were the main suppliers of diamond imports to Sri Lanka, with a combined X% share of total imports. India, South Africa and Botswana lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest diamond suppliers to Sri Lanka were the United Arab Emirates ($X), Israel ($X) and India ($X), with a combined X% share of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average diamond import price stood at $X per kg in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per kg in 2014; however, from 2015 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 India ($X per kg), while the price for Botswana ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Africa (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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