At 39%, India is World’s Largest Rough Diamond Importer : KP Report
According to the Annual Global Summary: 2016 Production, Imports, Exports and KPC Count released by the Kimberley Process Certification Scheme (KPCS), India maintains top position in global diamond manufacturing centre with highest number of rough imports in 2016. Russia and the European Union occupied the premier position in rough production and exports respectively.
The 2016 statistics on rough diamond production, import and export released by the Kimberley Process Certification Scheme (KPCS), confirms the importance of diamond manufacturing to India. India remains in the first place as the largest importer of rough diamonds in terms of both volume and value amongst all diamond importing countries in the world.
Imports and Exports
According to the report, India, which imported 149.3 million carats at US$16.7 billion, saw its share rise to 39.21 per cent of global rough imports in volume terms, up marginally from 37.77 per cent last year, while in value terms the country’s share rose to 34.32 per cent this year as against 31.69 per cent last year. India is ahead of second placed importer, the European Union, in terms of both volume and value – the latter having a 29.82 per cent and 27.17 per cent share in terms of volume and value respectively. The third position was retained by UAE. The country’s import of roughs rose 19 per cent to US$6.48 billion, while Israel, at the fourth position, saw its incoming shipments grew by 9 per cent to US$3.7 billion.
Worldwide rough imports jumped 15 per cent by value to US$48.56 billion in 2016, while import volume increased 11 per cent to 380.8 million carats, the figures showed.
On the exports front, the European Union remained the world’s largest exporter of rough diamonds, with most of it coming out of Antwerp. Exports from EU increased 13 per cent to US$13.01 billion. The UAE’s exports grew 14 per cent to US$ 8.6 billion. Botswana’s shipments went up 21 per cent to US$5.6 billion, while Russian exports jumped 28 per cent to US$4.39 billion and Israel’s rose 15 per cent to US$3.22 billion.
Overall, exports increased 13 per cent to US$47.93 billion, while the volume of these shipments expanded 9 per cent to 382.1 million carats in 2016.
Rough production 2016
‘The volume of rough diamond production in 2016 increased 5 per cent to 134.1 million carats from 127.4 million carats, the value of that output slid 11 per cent to US$12.4 billion from US$13.88 billion the previous year,’ the KP report stated.
Russia once again occupied the premier position as the largest producer country both in terms of volume and value. The Russian Federation produced 40.3 mn carats valued at US$ 3.6 billion. However Russia’s output slid 16 per cent to US$3.58 billion, the data showed. Botswana, which used to hold the number-one spot until Russia overtook
it in 2014, saw production slip 4.7 per cent to US$2.85 billion.
The Democratic Republic of Congo with 23.2 million carats replaced Botswana to become the second largest producing country in volu
me terms, while the latter with 20.5 million carats valued at US$ 2.9 billion remained the second largest in terms of value. Botswana’s share of global production fell further from 16.31 per cent in 2015 to 15.29 per cent in 2016 in volume terms though in value terms it inched up marginally from 21.51 per cent last year to 22.95 per cent this year.
After Botswana, the leading value producers are Canada, South Africa, Angola and then Namibia (U$533/ct) and Lesotho (U$1,066/ct) on the back of their high price earned per carat. DRC and Australia follow as a result of massive output coupled with low prices (U$11/ct and U$16/ct respectively), with Sierra Leone rounding out the top 10.