Supply and Demand
Is Diamond Production Stable?
For the last eight years, the number of rough diamonds mined have remained about the same (Linde).
Who are the Main Suppliers?
In 2015, the top ten countries that sell the most diamonds from greatest to least were Russia, Botswana, Democratic Republic of Congo, Australia, Canada, Angola, South Africa, Zimbabwe, Namibia, and Sierra Leone (McPhillips). Africa as a total supplies about 65% of the world's diamonds (Baker). Congo alone supplies about 1/5 of the world's diamonds suppy. Canada and South Africa recently have had the greatest increase of production of diamonds because of the creation of new mines (Linde). In contrast, Russia and Zimbabwe's diamond production has decreased (Linde).
Who are the Main Buyers?
The United States is the main consumer of diamonds, followed by the middle class of China and India (Linde). Though the market in diamonds in the U.S. only grew by 1.9% from 2004-2013, it is suspected that the demand would increase if more information was provided about the production of diamonds and if the production became more ethical (Baker).