The Latest Diamond Industry Statistics Explained
The value of the global diamond jewelry market in 2019 was $79 billion.
The statistic that the value of the global diamond jewelry market in 2019 was $79 billion indicates the total worth of diamond jewelry sales worldwide within that year. This figure reflects the combined revenue generated by the buying and selling of diamond jewelry across various markets and channels. The large sum highlights the significant economic importance and consumer demand for diamond jewelry on a global scale, emphasizing the enduring appeal and prestige associated with diamonds as luxury items. Understanding the value of the diamond jewelry market provides valuable insights for industry stakeholders, investors, and policymakers to gauge market trends, assess consumer preferences, and make informed business decisions within the jewelry sector.
Russia leads the world in diamond production by volume, producing 33 million carats in 2018.
The statistic that Russia leads the world in diamond production by volume, producing 33 million carats in 2018 indicates that Russia is the top producer of diamonds in terms of quantity for that particular year. Carats are the unit of measurement for diamonds, with one carat equal to 200 milligrams. The fact that Russia produced 33 million carats in 2018 showcases the country’s significant contribution to the global diamond industry. This statistic highlights Russia’s position as a key player in the diamond market, indicating the country’s strong presence and influence in the industry.
In 2020, Alrosa, one of the world’s leading diamond miners, produced 30 million carats of diamonds.
The statistic that in 2020, Alrosa produced 30 million carats of diamonds indicates a significant output by the leading diamond miner. The production of such a high volume of diamonds underscores Alrosa’s prominent position in the global market and its importance in the diamond industry. This statistic not only highlights the company’s operational scale and efficiency but also emphasizes its contribution to the overall supply of diamonds worldwide. Furthermore, the figure serves as a key performance indicator for Alrosa’s financial performance and market share, reflecting its ongoing success and competitiveness in the industry.
In 2020, total natural diamond production was 107 million carats.
The statistic stating that in 2020, total natural diamond production was 107 million carats represents the combined output of all natural diamond mines worldwide during that year. Carats are a unit of weight commonly used in the diamond industry to measure the size and value of diamonds. This figure provides insight into the overall supply of natural diamonds available in the market and can be used to analyze trends in diamond production, demand, and pricing. The data can be valuable for industry stakeholders, investors, researchers, and policymakers interested in the global diamond trade and its economic impact.
The largest ever rough diamond, the Cullinan, weighed 3,106 carats.
The statistic “The largest ever rough diamond, the Cullinan, weighed 3,106 carats” highlights the impressive size of the Cullinan diamond, which was discovered in South Africa in 1905. Carats are a unit of weight commonly used to measure the mass of gemstones, with one carat equal to 0.2 grams. The Cullinan diamond holds the record for being the largest rough diamond ever found, showcasing its rarity and exceptional quality. Its immense size makes it a remarkable and valuable gemstone, symbolizing the extraordinary natural wonders that exist in the world of precious stones.
There are approximately 133,000 people employed in the diamond sector in Africa.
The statistic stating that approximately 133,000 people are employed in the diamond sector in Africa highlights the significant economic impact and employment opportunities that the diamond industry contributes to the continent. This figure underscores the sector’s role in supporting livelihoods and providing jobs for a substantial number of individuals across various African countries. Additionally, it signifies the importance of the diamond industry as a major source of employment and economic activity within the region, showcasing its contribution to both local and national economies in Africa.
In 2020, De Beers, one of the leading diamond miners, produced 25.1 million carats of diamonds.
In 2020, De Beers, a prominent diamond mining company, reported the production of 25.1 million carats of diamonds. This statistic highlights the significant output of diamonds by De Beers during that year, showcasing their substantial contribution to the global diamond market. The production of 25.1 million carats reflects the company’s substantial presence in the industry and underscores its position as a major player in the diamond mining sector. This statistic provides valuable insight into the scale of De Beers’ operations and their role in meeting the demand for diamonds worldwide.
The US is the largest market for diamond jewelry, with a 48% market share by value in 2019.
The statistic indicates that in 2019, the United States dominated the market for diamond jewelry by holding a 48% market share based on the overall value of diamonds sold. This suggests that almost half of the global sales revenue for diamond jewelry originated from consumers in the United States, highlighting the significant influence of American consumers in the diamond industry. This data point reflects the strong demand and purchasing power of American consumers when it comes to luxury goods such as diamond jewelry, making the US a crucial player in the global diamond market.
The global diamond production is forecasted to reach 136 million carats in fiscal year 2023.
The statistic indicates that the total diamond production worldwide is projected to reach 136 million carats in the fiscal year 2023. This forecast provides an estimate of the expected output of diamonds from mines and production facilities around the globe during that specific fiscal period. The figure serves as a valuable indicator for the diamond industry, investors, and other stakeholders, helping them to assess the anticipated supply of diamonds in the market and make informed decisions based on this information. It also reflects the ongoing demand for diamonds and the production capacity of key players in the diamond industry, offering insights into potential market trends and dynamics for the upcoming fiscal year.
De Beers’ revenue dropped by 27% in 2020 due to the impact of the Covid-19 pandemic.
The statistic indicates that in the year 2020, De Beers experienced a 27% decrease in revenue compared to the previous period. This significant drop can be attributed to the effects of the Covid-19 pandemic, which led to global disruptions in various industries, including retail and luxury goods. The decline in revenue suggests that consumer demand for diamonds and luxury jewelry, in general, may have decreased as a result of the economic uncertainty and changes in consumer behavior brought about by the pandemic. As such, De Beers and other similar companies likely faced challenges in maintaining their sales and profitability during this period of economic turmoil.
India cuts and polishes nearly 92% of the world’s diamonds.
The statistic “India cuts and polishes nearly 92% of the world’s diamonds” highlights India’s significant role in the global diamond industry. As a major player in the diamond cutting and polishing sector, India possesses highly skilled craftsmen and advanced technology that enable the country to process a large majority of the world’s diamonds. This statistic underscores India’s dominance in the value chain of diamond production, reflecting its expertise and efficiency in transforming rough diamonds into finished products that are then sold worldwide. India’s pivotal position in the diamond industry has established the country as a key hub for the processing and distribution of these precious gemstones on a global scale.
The Diamond Trading Company (DTC) is the world’s largest distributor of rough diamonds, selling up to $6 billion worth of diamonds a year.
The statistic that the Diamond Trading Company (DTC) is the world’s largest distributor of rough diamonds, selling up to $6 billion worth of diamonds a year, highlights the significant market dominance and economic impact of the company within the global diamond industry. With such high sales volume, DTC plays a crucial role in the supply chain of rough diamonds, serving as a key intermediary between diamond producers and manufacturers. The sheer scale of the annual sales revenue underscores DTC’s influence on the global diamond market, shaping pricing trends and impacting the overall industry dynamics. Additionally, the statistic signifies the company’s pivotal position in driving global demand for diamonds and sustaining the economic value of this precious commodity.
Africa produces over 60% of the world’s diamonds.
The statistic that Africa produces over 60% of the world’s diamonds highlights the continent’s significant role in the global diamond industry. Africa is home to some of the world’s largest diamond-producing countries, such as Botswana, South Africa, and Angola. The abundance of diamond mines and deposits in Africa has positioned the continent as a major player in the diamond market, contributing to a large portion of the world’s total diamond output. This statistic underscores Africa’s importance in the supply chain of diamonds, reflecting the rich natural resources and mining activities that have made the continent a key player in the global diamond trade.
The Argyle mine in Western Australia, which shut in 2020, was the world’s largest producer of pink and red diamonds.
The statistic highlights the significance of the Argyle mine in Western Australia as the primary global source of pink and red diamonds until its closure in 2020. These colored diamonds are incredibly rare and highly sought after for their unique and vibrant hues, making them some of the most valuable gemstones in the world. The closure of the Argyle mine marked the end of an era in diamond mining history and may impact the availability and pricing of pink and red diamonds in the market, further enhancing their exclusivity and allure among collectors and investors.
Russia’s Alrosa is the world’s largest diamond company by volume, contributing 27% in the global diamond production.
The statistic that Russia’s Alrosa is the world’s largest diamond company by volume, contributing 27% in the global diamond production indicates that Alrosa plays a significant role in the diamond industry. With its high production volume, Alrosa is responsible for supplying a substantial portion of the world’s diamonds, highlighting its dominance in the market. This statistic suggests that Alrosa has a considerable impact on shaping the global diamond market landscape and underscores Russia’s importance in the international diamond trade. The company’s large market share underscores its influence on pricing, supply, and overall market dynamics within the diamond industry.
Botswana is the world’s second-largest producer of diamonds in terms of value and the third-largest in terms of volume.
The statistic indicates that Botswana holds a significant position in the global diamond industry, ranking as the second-largest producer in terms of the overall value of diamonds and the third-largest producer in terms of the volume of diamonds extracted. This showcases the country’s substantial contribution to the worldwide diamond market, highlighting its success in terms of both quality and quantity of diamond production. Botswana’s position as a major player in the industry not only bolsters its economy through the revenue generated from diamond exports but also underscores the country’s importance in shaping the dynamics of the global diamond trade.
As of 2020, Botswana held 17% of the global diamond reserves.
The statistic stating that as of 2020, Botswana held 17% of the global diamond reserves indicates that Botswana possessed a significant proportion of the world’s known diamond deposits. This figure highlights Botswana’s prominent role in the diamond industry, as the country is one of the largest producers of diamonds in the world. The substantial reserves signify Botswana’s valuable natural resource wealth and the importance of diamond mining to its economy. Additionally, this statistic suggests that Botswana is a key player in the global diamond market, with the potential for continued growth and influence in the industry based on its substantial reserves.
Approximately 80% of mined diamonds are unsuitable for use as gemstones and are used industrially.
This statistic indicates that a large majority, around 80%, of diamonds that are mined are not of high enough quality to be used as gemstones. These lower-quality diamonds are instead utilized for industrial purposes, such as in tools, machinery, and cutting equipment. The presence of such a significant proportion of diamonds being unsuitable for ornamental purposes highlights the importance of the diamond industry in various industrial applications beyond just jewelry and luxury goods. Additionally, it emphasizes the complexity and diversity of the diamond market, where diamonds of varying quality and characteristics are sourced and utilized in different sectors based on their properties and value.
In 2019, the average price of a diamond is $2,380 per carat.
The statistic “in 2019, the average price of a diamond is $2,380 per carat” indicates the typical cost per unit weight of diamonds during that year. This average price of $2,380 per carat reflects the overall market value of diamonds in 2019, taking into account various factors such as diamond quality, size, and market demand. This statistic provides valuable insight into the pricing trends within the diamond industry, offering a reference point for consumers, investors, and industry professionals to understand the prevailing cost of diamonds on a per carat basis.
Conclusion
Ultimately, the diamond industry statistics reveal a complex and ever-evolving market with trends that reflect changes in consumer behaviors, economic conditions, and global demand. By analyzing these statistics, stakeholders in the industry can make more informed decisions that drive innovation and sustainability in this valuable sector.
References
0. – https://www.www.debeersgroup.com
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2. – https://www.www.spectator.co.uk
3. – https://www.www.mining.com
4. – https://www.www.nsenergybusiness.com
5. – https://www.geology.com
6. – https://www.www.statista.com
7. – https://www.www.britannica.com
8. – https://www.www.catholic.org
9. – https://www.www.kitco.com
