In 2023, global spending on imported diamonds reached $101.2 billion, reflecting the continued significance of diamonds in international trade.

Despite this substantial figure, global demand for imported diamonds has declined by an average of 7.6% when compared to 2019, when diamond purchases totaled $109.5 billion. On a year-over-year basis, spending on diamond imports experienced a sharp 22.5% decrease from $130.5 billion in 2022.

Major Diamond Importers

The world's top five diamond importers in 2023 were: India, United States, Hong Kong, United Arab Emirates, Belgium

Together, these five key players purchased approximately 76.4% of all diamonds traded globally, solidifying their dominant position in the international diamond market.

Regional Insights into Diamond Imports

When analyzing diamond imports by continent:

·Asia led the way with diamond purchases totaling $64.3 billion, accounting for 63.5% of the global total.

·North America ranked second, representing 19.2% of worldwide diamond imports.

·Europe made up 14.9% of global demand.

Smaller shares of imports came from:

·Africa: 1.9%

·Oceania: 0.4%, with Australia and New Zealand being the primary importers

·Latin America: 0.1%, excluding Mexico but including the Caribbean

For reference, the 4-digit Harmonized Tariff System (HTS) code 7102 is used for non-mounted and unset diamonds.

Countries with the Largest Diamond Imports in 2023

Here are the 15 countries that imported the highest dollar values of diamonds last year:

1.India – $22 billion (21.7%)

2.United States – $19 billion (18.8%)

3.Hong Kong – $15.5 billion (15.4%)

4.United Arab Emirates – $11.6 billion (11.5%)

5.Belgium – $9.1 billion (9%)

6.Mainland China – $6 billion (5.9%)

7.Israel – $4.1 billion (4.1%)

8.Switzerland – $2.1 billion (2%)

9.Thailand – $1.8 billion (1.8%)

10.France – $1.3 billion (1.3%)

11.United Kingdom – $993.6 million (1%)

12.Botswana – $948.3 million (0.9%)

13.Italy – $921.2 million (0.9%)

14.Japan – $717.4 million (0.7%)

15.South Africa – $578.4 million (0.6%)

In total, these 15 nations accounted for a remarkable 95.6% of all diamond imports in 2023.

Growth and Decline in Diamond Imports

While most countries experienced a decline in diamond imports, a few markets showed growth:

·Japan saw a 16.3% increase in diamond imports.

·France recorded a 12.6% rise compared to the previous year.

Conversely, several countries experienced substantial declines:

·Botswana: -57.1%

·United Kingdom: -38.2%

·Israel: -34.4%

·United Arab Emirates: -34.1%

These shifts highlight changing market dynamics and evolving demand for diamonds worldwide.

Top Diamond Importing Companies in 2024

The following companies were key players in diamond imports, contributing significantly to the global trade:

1.Shree Ramkrishna Exports Pvt Ltd – $716.49 million (3.51%)

2.Kiran Gems Private Limited – $713.69 million (3.49%)

3.Vishindas Holaram – $472.8 million (2.31%)

4.Laxmi Diamond Private Limited – $381.35 million (1.87%)

5.Dharmanandan Diamonds Pvt Ltd – $372.04 million (1.82%)

6.Worldwide Diamond Sorting Pvt Ltd – $344.6 million (1.69%)

7.Hari Krishna Exports Pvt Ltd – $333.2 million (1.63%)

8.Evermine Diamond Private Limited – $255.56 million (1.25%)

9.Asian Star Company Limited – $225.44 million (1.1%)

10.Dimexon Diamonds Limited – $221.18 million (1.08%)

These companies are at the forefront of the diamond import industry, connecting global suppliers with buyers while driving significant volumes in international trade.

Conclusion

Even as the value of diamond imports has declined in recent years, the sector remains dominated by key markets in Asia, North America, and Europe. India continues to lead global imports, alongside other heavyweights like the U.S. and Hong Kong. With evolving market conditions, shifting demand, and fluctuations in global spending, the diamond trade continues to adapt while remaining a crucial aspect of the luxury goods market.

Would you like a visual breakdown of this data for a presentation or report? Let me know, and I can help create something tailored to your needs!

Tendata provides 850 million+ contact information for 500 million companies in 228+ countries around the world, including phone number, email, LinkedIn, Facebook, Instagram, Twitter, Youtube and other contact information. These contact information are verified to ensure that you can contact customers.

In addition, Tendata also provides basic information about companies, including branches, equity relationships, main products, business relationships, news and public opinion, intellectual property rights, etc. You can use this information to conduct background checks on companies.

Tendata also provides import or export analysis of companies, including trade trends, product HS codes, supply chain information, country of origin or country of supplier, ports, etc. You can track the latest developments of companies and find out if they have the latest needs.

We show you Tendata's corporate information cases: >>Request for Free Demo