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Global Rough Trading Jumps in 2016

Jul 5, 2017 10:10 AM   By Rapaport News
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Global rough-diamond trading grew last year amid an increase in average prices, according to data the Kimberley Process (KP) released Tuesday.

Worldwide rough imports jumped 15% by value to $48.56 billion in 2016, while import volume increased 11% to 380.8 million carats, the figures showed. Exports increased 13% to $47.93 billion, while the volume of these shipments expanded 9% to 382.1 million carats.

The average price for both imports and exports increased by 4% — the former to $128 per carat, and the latter to $125 per carat.

The three largest rough importers — India, the European Union (EU) and the United Arab Emirates (UAE) — saw double-digit growth in value, reflecting a resurgence in the rough market compared with a relatively slow 2015. India imported $16.67 billion of rough, a 25% jump from the previous year, the data showed. Imports to the EU — which includes Belgium, one of the largest rough-trading hubs — increased 12% to $13.2 billion. The UAE’s imports rose 19% to $6.48 billion, while Israel’s incoming shipments grew 9% to $3.7 billion.

The EU remained the world’s largest exporter of rough, with most of it coming out of Antwerp. Exports from the bloc increased 13% to $13.01 billion. The UAE’s exports grew 14% to $8.6 billion. Botswana’s shipments went up 21% to $5.6 billion, while Russian exports jumped 28% to $4.39 billion and Israel’s rose 15% to $3.22 billion.

While global trading was higher than in 2015, it still lagged behind 2014. That year, worldwide exports totaled $58.12 billion, or 420.6 million carats, and imports stood at $56.63 billion, or 409.1 million carats.

Top 10 Rough Exporters by Value in 2016

Country Exports ($B) Volume (M cts.)
European Union 13.01 101.4
United Arab Emirates 8.60 68.9
Botswana 5.60 31.4
Russia 4.39 42.7
Israel 3.22 12.0
India 1.79 38.5
Switzerland 1.67 4.5
China 1.62 11.0
South Africa 1.53 10.6
Canada 1.46 13.1
 Source: Kimberley Process

Top 10 Rough Importers by Value in 2016

Country Exports ($B) Volume (M cts.)
India 16.7 149.3
European Union 13.2 113.5
United Arab Emirates 6.5 70.6
Israel 3.7 13.5
China 1.8 13.6
Switzerland 1.6 4.5
Botswana 1.5 5.9
Singapore 1.0 4.0
US 1.0 2.3
South Africa 0.4 0.5
 Source: Kimberley Process

Image: Alrosa
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Tags: Antwerp, EU, European Union, imports and exports, India, Israel, Kimberley Process, KP, Rapaport News, rough imports, rough trading, uae, United Arab Emirates
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