Despite the turbulent effects on the global diamond industry due to the global financial crisis, global diamond production figures are only slightly down (just 3%) for the year 2008 compared to 2007. Despite this slight drop in production levels, the value of the production increased by 6.7%, with the average per carat value increasing by some 10%.
In total, some 162,907,717 carats of diamonds worth US$12,732,278,808, at an average per carat value of US$78.16, were produced according to the just released Kimberley Process statistics for 2008. In 2007, 167,918,179 carats of diamonds were produced to the value of US$11,935,360,826, at an average value of US$71.08.
As for the number of Kimberley Process Certificates issued in 2007 some 56,444 import certificates were issued, while some 57,164 export certificates were issued. In 2008, this fell to 47,744 import certificates and 48,842 export certificates. This equates to a fall of about a quarter in terms of both imports and exports.
Some significant changes (or in some cases anomalies) were recorded as follows:
Brazilian diamond production in 2008 fell to 80,226 carats worth US$6,221,579 from 179,222 carats worth US$17,691,004 in 2007.
Canadian diamond production fell in terms of carats from 17,007,850 carats in 2007 to 14,802,699 carats in 2008. However, in terms of value, 2008 production was worth US$2,254,710,604, compared to US$1,657,014,734 in 2007.
Republic of Congo: diamond production in 2008 increased to 110,000 carats worth US$5,250,000 from 22,000 carats worth US$1,000,000 in 2007. According to the count of certificates, just one single Kimberley Process certificate was issued for the RoC in 2008. The country’s exports were reported to be 36,737.71 carats worth US$1,019,705.
Guinea: Production in 2008 was 3,098,490 carats worth US$53,698,456. In 2007, Guinea’s diamond production was 1,018,723 carats worth US$46,101,145. The average value per carat in 2007 was US$45.25. This fell to US$17.33 in 2008.
Sierra Leone production in 2008 was 371,261 carats worth US$98,722,171. This fell from production of 603,623 carats worth US$141,565,685 in 2007.
United Arab Emirates (Dubai): Imports in 2007 were 42,633,760 carats worth US$1,954,028,726, at an average per carat price of US$45.83 while exports were 39,921,153 carats worth US$2,825,253,936, at an average per carat price of US$70.77.
In 2008, imports were 38,776,237 carats worth US$2,155,662,558, at an average per carat price of US$55.59 while exports were 35,578,997 carats worth US$3,085,225,777, at an average per carat price of US$86.71.
Venezuela – despite the controversy involving the presence of Venezuela in the Kimberley Process, the country’s production in 2008 was 9,381 carats worth US$1,293,116 at an average price per carat of US$137.84. In 2007, the country produced 14,503 carats worth US$1,192,285, at an average per carat price of US$82.21.
You can download the Annual Summary here.
You can download the Annual Summary Charts here.
You can download the Quarterly Certificate Counts here.
You can download the Quarterly Exports here.
You can download the Quarterly Imports here.
You can download the Semi-Annual 2008 Production here.
You can access the statistics at https://mmsd.mms.nrcan.gc.ca/kimberleystats/publicstats.asp
Further analysis will follow. All comments welcomed to news@diamondne.ws
Related posts:
- Rough Diamond Production Expected to Return to 2008 Levels no earlier than 2015
- First Reported Here: Russian Diamond Production Increases In Terms of Carats and Value in First Half of 2009
- Zimbabwean Diamonds Continue to be Arrested by Problems Associated with the Kimberley Process Certification Scheme
- Global high net worth individuals expanded in population and wealth in 2010 surpassing 2007 pre-crisis levels in nearly every region, according to the 15th annual World Wealth Report
- US Deputy Assistant Secretary of State: “Our Objective is not so much to become deputy chair of the Kimberley Process Certification Scheme but rather to try and make sure that the Kimberley Process works as it should”
