Key Market Indicators
In 2018, the country ranked number 1, followed by the United States, India and the United Arab Emirates in the ranking of diamond exported. Saudi Arabia is set to witness steady growth in diamond import over the coming years. By 2026, imports are expected to reach around $7.5 million, growing at a CAGR of 2.8% since 2021. Since 1996, demand in the country has grown by 27.8% annually. In 2021, Saudi Arabia was the 43rd largest diamond importer, behind Norway, the USA, Belgium, and the United Arab Emirates. Diamond exports from Saudi Arabia have seen a sharp decline in recent years. In 2018, exports dropped by 93.7% to $57,200 compared to 2017's $914,190. Since 2003, exports have decreased by almost 30% annually. In 2018, Saudi Arabia was the top diamond exporter, followed by the United States, India, and the UAE.
