Global consumer demand for diamond jewellery increased marginally to US$80 billion in 2016. Consumer demand in the US, which remained the fastest growing region, climbed more than four per cent to exceed US$40 billion for the first time, supported by job creation, wage growth and a strong stock market.
The analysis of the polished diamond content (the value of diamonds measured in Polished Wholesale Prices in US dollars) in diamond jewellery consumed around the world shows that both the US and Japanese markets gained share in 2016.
Further marginal growth in diamond jewellery demand is expected, in US dollars, driven by continued sales growth in the US and more encouraging demand trends in China and India.
While the US has seen slower GDP growth in the first quarter, which generally signals slower growth in diamond jewellery demand, the outlook for 2017 is for higher consumer confidence and GDP growth.
Retailers in China expect demand to continue to grow at a slightly faster rate, in local currency.
In India, the effect of demonetisation in 2017 proved to be less severe than anticipated, with consumption returning to more normal levels in the first quarter.
This hand-out is for information purposes only. De Beers Group does not offer any representation or warranty as to the accuracy or completeness of the hand-out and no reliance should be placed on the information disclosed for any purpose. Nothing in this hand-out should be interpreted to mean that De Beers or the diamond industry will perform in accordance with the analysis or data contained in this hand-out. Reliance should not be placed on any forward-looking statement because such statements are based on assumptions and can be affected by numerous uncertain factors. De Beers expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein.
* Greater China, including Mainland China, Hong Kong and Macau
P = Provisional
Sources: De Beers-commissioned studies; Retailers’ publicly available information