In 2023, India led global diamond exports with $24.03 billion. The United States and Belgium followed, exporting $19.5 billion and $15.87 billion, respectively. Israel and Hong Kong also featured prominently with $15.66 billion and $15.28 billion in exports. The UAE exported $12.81 billion, while Botswana and Russia's exports stood at $6.45 billion and $4.83 billion. Switzerland and South Africa exported $2.06 billion and $1.97 billion, respectively. Over the past two years, India, the UAE, and Belgium showed notable growth, while Russia and South Africa faced declines, particularly due to geopolitical factors impacting Russia and market shifts in South Africa.
Future trends to watch include:
- Technological advancements enhancing diamond traceability and ethical sourcing.
- Shifts towards lab-grown diamonds affecting natural diamond demand.
- Geopolitical changes impacting major players like Russia.
- Asia's growing role in consumption influencing export dynamics.
Top countries in Top Exporters of Diamonds
| # | 10 Countries | Million US Dollars | Last Year | |
|---|---|---|---|---|
| 1 | 1 India | 24,030 | 2016 | |
| 2 | 2 United States | 19,500 | 2016 | |
| 3 | 3 Belgium | 15,870 | 2016 | |
| 4 | 4 Israel | 15,660 | 2016 | |
| 5 | 5 Hong Kong | 15,280 | 2016 | |
| 6 | 6 United Arab Emirates | 12,810 | 2016 | |
| 7 | 7 Botswana | 6,450 | 2016 | |
| 8 | 8 Russia | 4,830 | 2016 | |
| 9 | 9 Switzerland | 2,060 | 2016 | |
| 10 | 10 South Africa | 1,970 | 2016 |
