Data released by the Kimberley Process (KP) notes that global trading of rough diamonds grew last year amidst an increase in average prices.
In 2016, global rough imports grew 15 per cent by value to USD $48.56 billion, with import volume swelling by 11 per cent to 380.8 million carats. Meanwhile, exports improved 13 per cent to USD $47.93 billion, while shipment volume jumped 9 per cent to 382.1 million carats. What’s more, average prices for imports and exports increased by 4 per cent, with imports growing to $128 per carat, and exports to $125 per carat.
India, the European Union (EU), and the United Arab Emirates (UAE), the three largest rough importers, saw double-digit growth in value. According to KP, this reflects a renaissance of the rough market after a relatively slow 2015. India imported USD $16.67 billion of rough, a 25 per cent growth from the previous year, the EU’s imports increased 12 per cent to USD $13.2 billion, and the UAE’s imports rose 19 per cent to USD $6.48 billion.
Despite global numbers sitting higher than in 2015, the year still has not reached 2014’s levels; then, worldwide exports were valued at USD $58.12 billion, or 420.6 million carats, while imports rested at USD $56.63 billion, or 409.1 million carats.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
