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Global demand for diamond breaks new record

The worldwide diamond sector is doing excellent. From a study done by diamond giant De Beers it became apparent that the global turnover of diamond in 2013 reached a record of 61.5 billion euros. The total production of diamond in carat rose with 7% and tops off at about 145 million carat. In the long run there is also good news for investors.

 

Positive long term prognosis

It is expected that the demand for diamond will also keep rising in the long run, thanks to the growing middle class in China and India and the economic recovery of the US, the largest outlet in the world for diamond jewellery. The sale of cut diamond rose there with 7% in 2013.

Between 2008 and 2013 China as well as India saw their domestic diamond markets grow yearly by 12%. China is the fastest growing market for the sale of diamond jewellery. The number of jewellers there rose by as much as 30% between 2010 and 2013.

Keep investing and innovating

Diamond consolidates its special status as a wanted luxury product, but the report from De Beers also warns that the expected growth must not be taken at face value. Due to the increased competition from other luxury items, it is imperative that continued investments are made in production, marketing, branding and new technology.

Diamond, boost for the local economy

The diamond industry left its mark more than ever on the economic accomplishments of the diamond producing countries in 2013. In Botswana diamond is responsible for 25% of the GNP and 75% of the total export. The influence is also unmistakable in Namibia with 8% of the GNP and 20% if the export.

Buying jewellery online ever more popular

Online sale has become an important pillar for the diamond sector, according to De Beers. In the US one in six diamonds was sold online in 2013. That market share will continue to grow in the coming years. In Belgium you can also easily buy diamonds on the internet. Online jeweller BAUNAT even offers its complete and exclusive collection of diamond jewellery in its webshop.