In 2023, diamond exports from Russia fell by 12% to 32.4 million carats, compared to 36.7 million carats a year earlier, according to the Kimberley Process (KP) report.
In terms of value, rough diamond exports from the country fell to $3.7 billion compared to $3.87 billion a year earlier. At the same time, diamond production in Russia decreased by 11% to 37.3 million carats.
According to KP, Russia accounted for 33% of the world’s rough diamond production in 2023. Botswana mined 23% of this volume, Canada stood at 14%, while Angola comes next with 9%, followed by the Democratic Republic of the Congo with 8%.
Botswana's rough diamond production volume rose marginally to 25.1 million carats, but its value fell from $4.7 billion in 2022 to $3.3 billion in 2023. Canada’s production remained stable at 16 million carats, but the value fell from $1.87 billion in 2022 to $1.54 billion last year.
Global rough diamond production by volume fell in 2023 by 7.6% to 111.52 million carats, and by value it decreased by 20% to $12.72 billion compared to $15.97 billion in 2022. The average rough diamond price stood at $114.1 per carat.
Meanwhile, according to KP, the largest rough diamond exporter in 2023 was the United Arab Emirates with a share of 30%, the European Union was in second place with 17%, and Russia accounted for 11% of the world’s exports. India became the largest rough diamond importer in 2023 in terms of volume and value, accounting for 127.7 million carats worth $14.6 billion.
Theodor Lisovoy, Editor in Chief, Rough&Polished
