Advanced Search

Global Rough Trading Jumps in 2016

Jul 5, 2017 10:10 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

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
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
Tags: Antwerp, EU, European Union, imports and exports, India, Israel, Kimberley Process, KP, Rapaport News, rough imports, rough trading, uae, United Arab Emirates
Similar Articles
Russian Sanctions Banner ThumbnailRussia Sanctions: Resource Center
Jun 01, 2022
With the US imposing sanctions on Alrosa and other Russian entities, there is rising concern about the
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.