Uganda: Diamond Market 2024

Diamond Market Size in Uganda

The Ugandan diamond market declined to $X in 2022, shrinking by X% against the previous year. In general, consumption, however, enjoyed temperate growth. Diamond consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Diamond Production in Uganda

In value terms, diamond production declined modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated pronounced growth 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 pace of growth appeared the most rapid in 2015 when the production volume increased by X%. Diamond production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Diamond Exports

Exports from Uganda

In 2022, approx. X kg of diamonds and other precious stones (unworked) were exported from Uganda; jumping by X% against 2021 figures. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. The exports peaked at X kg in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, diamond exports surged to $X in 2022. Overall, exports showed a temperate expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X kg) was the main destination for diamond exports from Uganda, with a X% share of total exports. Moreover, diamond exports to Thailand exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X kg), fourfold. Germany (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Thailand stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (X% per year) and Germany (X% per year).

In value terms, Thailand ($X), Democratic Republic of the Congo ($X) and Germany ($X) constituted the largest markets for diamond exported from Uganda worldwide, together comprising X% of total exports.

Among the main countries of destination, Thailand, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average diamond export price stood at $X per ton in 2022, rising by X% against the previous year. Overall, the export price, however, showed a slight decline. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Thailand ($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 Kenya (X%), while the prices for the other major destinations experienced more modest paces of growth.

Diamond Imports

Imports into Uganda

In 2022, diamond imports into Uganda reduced notably to X kg, declining by X% compared with the previous year. In general, imports saw a pronounced shrinkage. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, imports reached the peak of X kg. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, diamond imports shrank markedly to $X in 2022. Overall, imports faced a abrupt decline. The growth pace was the most rapid in 2019 when imports increased by X%. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, China (X kg) constituted the largest diamond supplier to Uganda, with a X% share of total imports. Moreover, diamond imports from China exceeded the figures recorded by the second-largest supplier, Tanzania (X kg), threefold. India (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Tanzania (X% per year) and India (X% per year).

In value terms, the largest diamond suppliers to Uganda were Tanzania ($X), South Africa ($X) and China ($X), together accounting for X% of total imports.

Among the main suppliers, China, with a CAGR of X%, saw the highest growth rate of the value of imports, 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, declining by X% against the previous year. In general, the import price saw a abrupt decline. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average 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 Tanzania ($X per ton), while the price for India ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform