Post-Covid: China’s Diamond Trade Bounces Back in H1 2021
China‘s diamond trade is surging, according to data released by the Shanghai Diamond Exchange (SDE) and quoted by IDEX Online.
In a recent report, the SDE has announced $3.82 billion in total rough and polished transactions in the half-year to June 2021 – a rise of over 86% on the same period in pre-Covid 2019. Imports of polished diamonds totaled $1.58 billion – up by almost 50% compared to the first half of 2019.
China, the biggest consumer market for diamonds after the US, seized $855 million of smuggled diamonds in a “nationwide crackdown, and the government has been taking decisive action against money laundering”, the report adds.
The country is also enjoying a wedding boom. According to the report, 2.1 million new couples registered for marriage certificates in Q1 – a rise of 37% compared to the same period in 2020.