HS Icon Diamonds

7102 (Harmonized System 1992 for 4-digit)

World Trade (2018): $116B, Rnk 21 / 1225

Top Exporter (2018): $26.3B, India

Top Importer (2018): $24.9B, India

Product Complexity (2018): -1.15, Rnk 854 / 1018

Export Growth (CAGR)(2017 - 2018): 13%, Rnk 614 / 1225

Mean Tariff (2018): 6.7%, Rnk 639 / 1259

Share of World Trade (2018): 0.63%, Rnk 21 / 1225

Overview:  This page contains the latest trade data of Diamonds. In 2018, Diamonds were the world's 21st most traded product, with a total trade of $116B. Between 2017 and 2018 the exports of Diamonds grew by 13%, from  $102B to $116B. Trade in Diamonds represent 0.63% of total world trade.

Exports: In 2018 the top exporters of Diamonds  were India ($26.3B), Belgium-Luxembourg ($16.6B), United States ($14.8B), Israel ($10.7B), and United Arab Emirates ($10.2B).

Imports: In 2018 the top importers of Diamonds were India ($24.9B), United States ($20.2B), Hong Kong ($19.6B), Belgium-Luxembourg ($16.4B), and United Arab Emirates ($11.1B).

Tariffs: In 2018 the average tariff for Diamonds was 6.7%, been the 639 lowest tariff using the HS4 product classification.

The countries with the highest import tariffs for Diamonds are Angola (50%), Barbados (45.3%), Belize (44.5%), Ethiopia (34.7%), and Trinidad and Tobago (33.1%). The countries with the lowest tariffs are Mauritius (0%), South Africa (0%), Hong Kong (0%), Japan (0%), and Lebanon (0%).

Ranking: Diamonds ranks 854th in the Product Complexity Index (PCI).

Exporters and Importers

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Trade By Country

Top Origin (2018): India, $26.3B

Top Destination (2018): India, $24.9B

Diamonds are the world's 21st most traded product.

In 2018, the top exporters of Diamonds were India ($26.3B), Belgium-Luxembourg ($16.6B), United States ($14.8B), Israel ($10.7B), and United Arab Emirates ($10.2B).

In 2018, the top importers of Diamonds were India ($24.9B), United States ($20.2B), Hong Kong ($19.6B), Belgium-Luxembourg ($16.4B), and United Arab Emirates ($11.1B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2017 -  2018): United States, $7.89B

Top Destination Growth (2017 - 2018): India, $4.22B

Between 2017 and 2018, the exports of Diamonds grew the fastest in United States ($7.89B), United Arab Emirates ($1.98B), Hong Kong ($1.43B), China ($1.31B), and Angola ($1.19B).

Between 2017 and 2018, the fastest growing importers of Diamonds were India ($4.22B), Hong Kong ($4.17B), United Arab Emirates ($2.73B), Belgium-Luxembourg ($2.52B), and Israel ($892M).

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Market Concentration

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Cumulative market share

This chart shows the evolution of the market concentration of exports of Diamonds.

In 2018,  market concentration measured using Shannon Entropy, was 3.52. This means that most of the exports of Diamonds are explained by 11 countries.

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TOP NET EXPORTER (2018): South Africa, $8.18B

TOP NET IMPORTER (2018): Hong Kong, $12.7B

This map shows which countries export or import more of Diamonds. Each country is colored based on the difference in exports and imports of Diamonds during 2018.

In 2018, the countries that had a largest trade value in exports than in imports of Diamonds were South Africa ($8.18B), Russia ($4.9B), Israel ($3.95B), Canada ($2.57B), and Angola ($2.49B).

In 2018, the countries that had a largest trade value in imports than in exports of Diamonds were Hong Kong ($12.7B), United States ($5.43B), Switzerland ($1.33B), United Arab Emirates ($864M), and France ($862M).

Trade Forecasts

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This section shows forecasts for total trade for Diamonds. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Import Tariffs

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In 2018, the average tariff for importing Diamonds was 6.7%.  The countries with the highest tariffs for importing Diamonds were Angola (50%), Barbados (45.3%), Belize (44.5%), Ethiopia (34.7%), and Trinidad and Tobago (33.1%).

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Product Complexity

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Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a product's potential export opportunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth potential, lower income inequality, and lower emissions.