In 2023, Russia’s diamond exports decreased by 12% to 32.4 million carats compared to 2022, according to a Kimberley Process (KP) report quoted by Rough & Polished. The value of Russia’s rough diamond exports also fell to $3.7 billion from $3.87 billion. Diamond production in Russia declined by 11% to 37.3 million carats.
Russia accounted for 33% of the world’s rough diamond production in 2023. Botswana followed with 23%, Canada with 14%, Angola with 9%, and the Democratic Republic of the Congo with 8%.
Global rough diamond production by volume decreased by 7.6% in 2023 to 111.52 million carats. The value fell by 20% to $12.72 billion from $15.97 billion in 2022. The average rough diamond price was $114.1 per carat.
The United Arab Emirates was the largest rough diamond exporter in 2023, holding a 30% share of the market. The European Union was second with 17%, and Russia accounted for 11% of global exports. India emerged as the largest rough diamond importer, both in volume and value, with 127.7 million carats worth $14.6 billion.
