The export of Russian diamonds in 2025 fell by 28% due to the size of the stones
Against the background of the global crisis, the diamond-brilliant industry of the Russian Federation holds the share of world trade in diamonds in kind. Export is reduced, and especially in monetary terms: according to the Kimberlian process, by 28.6% (in natural – about 6.3%). Analysts explain such indicators in the growth of a share in the export of small, cheaper stones. Large Russian diamonds fell under sanctions restrictions.
At the end of 2024, Russia took second place in terms of reducing the export of diamonds in monetary terms among the main manufacturers, according to the Kimberlian process.
- Year by the year, the indicator decreased by 28.6%, up to $ 2.62 billion.
- The worst dynamics showed only Canadareducing export by 31%, to $ 1.07 billion.
- Deliveries from Botswans decreased by 19.9%, to $ 2.81 billion, from Angola – by 8.8%, up to $ 1.44 billion.
- Democratic Republic of Congo (DRC) increased export by 3%, to $ 89.07 million.
As follows from the data of the Kimberlian process, the dynamics is mainly associated with a drop in prices for Russian diamonds by 24%, up to $ 86.36 per carat. In the volume of deliveries from the Russian Federation, to 6.27% year, to 30.37 million carats decreased by 6.27%. Botswana reduced exports by 21.3%, to 20.34 million carats, Canada – by 19%, to 12.88 million carats. Angola and DRC increased supply by 1% and 11%, to 10.14 million and 9.24 million carats, respectively.
The global export of diamonds decreased by 7.21%, to 284.9 million carats, the cost of supplies fell by 16.8%, to $ 30 billion, the average -sided prices – by 10.27%, to $ 105.33 per carat, follows from the materials. The share of the Russian Federation in the world export of diamonds in natural terms remained at 11%, in monetary – it decreased from 10%to 9%.
The main task of the Kimberlian process is to fight the “bloody” diamonds on the market, illegally mined, as well as directed to financing regional conflicts and international terrorist groups. For this country, which are part of the organization, they exchange data on the production, import and export of diamonds.
According to the Kimberlian process, in 2024, Russia provided 32% of the world’s production of diamonds with an indicator of 37.32 million carats against 33% a year earlier. The share of the botswall increased from 23%to 24%, Angola – from 9%to 12%, Canada – decreased from 14%to 11%, DRK – remained 8%. World production increased by 5.7%, to 117.95 million carats.
Alrosa, who mines about 90% of diamonds in Russia, reported in the report for 2024, that the main decrease in the world sales of diamonds during this period was provided by Alrosa and De Beers (conducts prey in Botswan, South Africa and Namibia). As the Russian company explained, after a significant growth in sales with the end of the pandemic, in 2023–2024, the diamond-brilliant market entered the correction zone due to the accumulation of significant reserves in the cutting sector and the normalization of demand for jewelry products. Sales of jewelry-brilliant products in 2024, the report said, decreased by 2%, to $ 81 billion (about the indicators of Alros see more details “Kommersant” from May 29). Alrosa refused to comment.
Boris Krasnozhenov, head of the analytics department for the securities market of Alfa-Bank, explains the negative dynamics of diamond export in monetary equivalent by an increase in Alrosa sales of smaller stones and a general decrease in diamond prices.
“Waiting for prices in 2025–2026, the company could leave the most expensive and large stones in the reserves,” he says. The executive director of the Russian jewelers, Vladimir Zboykov, notes that the restrictions against the Russian Federation in the diamond market have so far affected only large, most expensive diamonds. And a decrease in the mass, he indicates, led to a decrease in price.
According to Mr. Krasnozhenov, this year, diamond manufacturers will continue to reduce production and sales in order to balance demand and demand. He indicates that the export of diamonds from India, which accounts for 90% of world organics, has been growing since November 2024 for five months in a row. Rapaport diamond price indices have been growing from the beginning of the year, the Zimnisky Global Roun Diamond Price Index also demonstrates positive dynamics, the expert adds. According to his estimates, the normalization of stocks against the background of sustainable demand for jewelry with diamonds with a limited proposal of diamonds will become a driver of a long structural recovery of the market on the horizon of the next 12-18 months.
Alrosa indicated in the reports that in the short term, a gradual normalization of the level of diamond reserves and diamonds is expected. The market balance in 2025 will depend on the ability of its participants to support the “responsible approach to the proposal of diamond raw materials” and on the beginning of the new cycle of restoration of demand for jewelry, the company said.
