Asia-Pacific: Diamond Market 2024

Diamond Market Size in Asia-Pacific

In 2022, the Asia-Pacific diamond market decreased by X% to $X.7B, falling for the second year in a row after four years of growth. In general, consumption, however, continues to indicate a abrupt curtailment. Over the period under review, the market reached the peak level at $X.5B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Diamond Production in Asia-Pacific

In value terms, diamond production declined slightly to $X.8B in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of production peaked at $X.3B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Diamond Exports

Exports in Asia-Pacific

In 2022, exports of diamonds and other precious stones (unworked) in Asia-Pacific reduced to X tons, waning by X% compared with 2021 figures. Overall, exports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, diamond exports reached $X in 2022. Over the period under review, exports continue to indicate a slight curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Singapore (X tons) was the largest exporter of diamonds and other precious stones (unworked), making up X% of total exports. India (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by China (X%). The following exporters - South Korea (X tons), Australia (X tons) and Thailand (X tons) - each amounted to a X% share of total exports.

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

In value terms, Singapore ($X), India ($X) and China ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Singapore, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced a decline in the export price figures.

Diamond Imports

Imports in Asia-Pacific

Diamond imports surged to X tons in 2022, growing by X% compared with 2021 figures. In general, imports showed a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, diamond imports amounted to $X in 2022. Total imports indicated a slight 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

China dominates imports structure, amounting to X tons, which was near X% of total imports in 2022. The following importers - India (X tons) and Thailand (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to diamond imports into China stood at X%. At the same time, Thailand (X%) and India (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported diamonds and other precious stones (unworked) in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in India stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: China (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, dropping by X% against the previous year. In general, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2016 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X,844 per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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