HS Icon Diamonds

7102 (Harmonized System 1992 for 4-digit)

 2019
World Trade
: $104B, Rnk 22 / 1217

2019
Top Exporter | Top Importer
: $22.5B | $21.4B, India | India

2019
Product Complexity
: -1.24, Rnk 833 / 961

2018 - 2019
Export Growth (CAGR)
: -15.5%, Rnk 1085 / 1217

2018
Mean Tariff
: 6.7%, Rnk 639 / 1259

 2019
Share of World Trade
: 0.57%, Rnk 22 / 1217

Overview:  This page contains the latest trade data of Diamonds. In 2019, Diamonds were the world's 22nd most traded product, with a total trade of $104B. Between 2018 and 2019 the exports of Diamonds decreased by -15.5%, from  $123B to $104B. Trade in Diamonds represent 0.57% of total world trade.

Exports: In 2019 the top exporters of Diamonds  were India ($22.5B), United States ($13.4B), Belgium ($12.8B), Israel ($11.2B), and United Arab Emirates ($9.02B).

Imports: In 2019 the top importers of Diamonds were India ($21.4B), Hong Kong ($18.6B), United States ($17.9B), Belgium ($12B), and United Arab Emirates ($9.56B).

Tariffs: In 2018 the average tariff for Diamonds was 6.7%, making it the 639th 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 833rd in the Product Complexity Index (PCI).

Description: Diamonds are used in the production of other goods. They can be made from a variety of materials, including carbon, silicon, and boron.

Exporters and Importers

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Trade By Country

Top Origin (2019): India, $22.5B

Top Destination (2019): India, $21.4B

Diamonds are the world's 22nd most traded product.

In 2019, the top exporters of Diamonds were India ($22.5B), United States ($13.4B), Belgium ($12.8B), Israel ($11.2B), and United Arab Emirates ($9.02B).

In 2019, the top importers of Diamonds were India ($21.4B), Hong Kong ($18.6B), United States ($17.9B), Belgium ($12B), and United Arab Emirates ($9.56B).

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Market Dynamics

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Trade by country

Value

Top Origin Growth (2018 -  2019): Switzerland, $175M

Top Destination Growth (2018 - 2019): Saudi Arabia, $101M

Between 2018 and 2019, the exports of Diamonds grew the fastest in Switzerland ($175M), China ($33.1M), Tanzania ($26.5M), Chinese Taipei ($25M), and Turkey ($21.3M).

Between 2018 and 2019, the fastest growing importers of Diamonds were Saudi Arabia ($101M), United Kingdom ($86.7M), Italy ($38.1M), Malaysia ($28.3M), and Bahrain ($14M).

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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 2019,  market concentration measured using Shannon Entropy, was 3.73. This means that most of the exports of Diamonds are explained by 13 countries.

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TOP NET EXPORTER (2019): Israel, $5.09B

TOP NET IMPORTER (2019): Hong Kong, $12.1B

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 2019.

In 2019, the countries that had a largest trade value in exports than in imports of Diamonds were Israel ($5.09B), Russia ($3.7B), Botswana ($3.03B), Canada ($2.16B), and South Africa ($1.9B).

In 2019, the countries that had a largest trade value in imports than in exports of Diamonds were Hong Kong ($12.1B), United States ($4.47B), France ($995M), Switzerland ($755M), and United Arab Emirates ($537M).

Disaggregation

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Value

In 2019, the world most traded Diamonds, disaggragated by their HS6 level were Diamonds (jewellery) worked but not mounted... ($67.6B), Diamonds (jewellery) unworked or simply sawn,... ($32.5B), Diamonds, unsorted ($2.89B), Diamonds, industrial, unworked or simply sawn,... ($459M), and Diamonds industrial, worked ($118M)

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.