2021 proved to be another record-breaking year for China, as net import of polished diamonds reached $2.924 billion – a rise of 105.3% year-on-year and up 58% from 2019, Rough & Polished reports.
Data from the Gems & Jewelry Trade Association of China (GAC), quoted in the piece, shows that China’s diamond jewelry retail market reached approximately $12.4 billion in 2021, which “accounts for 13% of the nation’s jewelry retail.”
Lin Qiang, Vice Chairman of the World Federation of Diamond Bourses (WFDB) and President of the Shanghai Diamond Exchange (SDE) said: “The historic growth in diamond imports in 2021proves that the economic fundamentals and underlying factors supporting the long-term development of China’s diamond market remain unchanged, and indicates that China’s diamond imports shall sustain waves of growth for a long time to come.”
