The import of grindstones of synthetic or natural diamond to Australia has shown fluctuations over the years, standing at 22.78 million US dollars in 2023. From 2013 to 2023, the imports have had varied year-on-year changes with both positive and negative shifts. Notably, there was a significant dip in 2020 before a robust recovery in 2021.
In recent years, the year-on-year growth stabilised around the 1% mark, reflecting a slight but consistent rise. The 5-year CAGR from 2018 to 2023 stands at 1.51%, indicating a steady increase in the import value.
Looking towards the future, the forecast suggests a continued upward trend with the import value rising to 24.393 million US dollars by 2028. The expected 5-year CAGR of 1.08% and a growth rate of 5.51% over the same period imply gradual but sustained growth.
Future trends to watch for include potential impacts of global supply chain disruptions, technological advancements in manufacturing grindstones, and Australia’s economic conditions which may accelerate or slow down the import growth rate.
