In 2023, Angola's industrial natural diamond production stood at 907.76 thousand carats. The year-over-year growth from 2022 to 2023 was 0.71%, with a compound annual growth rate (CAGR) of 1.54% over the past five years. During the period from 2013 to 2022, the diamond production displayed significant fluctuations, with notable declines in 2018 and 2020 by -10.91% and -16.36% year-on-year, respectively. However, it rebounded strongly in 2021 with a 21.39% increase.
From 2024 onwards, the production is forecasted to grow steadily, with an average annual growth rate (CAGR) of 0.57% over the next five years, culminating in a production volume of 941.33 thousand carats by 2028. This period is expected to exhibit a moderate 2.9% overall growth rate.
Future trends to watch for include advancements in mining technologies, shifts in global demand for industrial diamonds, and potential impacts of environmental regulations. Economic stability and investments in the mining sector in Angola will also play crucial roles in shaping the production trajectory.
