There is some serious “bling – bling” in these 10 countries that export the most diamonds in the world. There are lots of women wanting their best friend, so these countries provide the material. For most of the men, diamonds are just shiny rocks, but women as always think the exact opposite.
You may wonder why diamonds are such popular gemstones. Well, it’s not only because they are shiny. The true appeal of diamonds lies in their hardness. Diamond is the hardest material on Earth, and thanks to that it is resistant to scratching. One line describes their attributes the best: “Diamonds last forever”.
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Diamonds, as we know them, don’t grow on trees obviously. They are formed inside the Earth’s core (87 to 118 miles) and travel close to the surface due to volcanic eruptions. Diamonds are then mined, but that is just a beginning of the process. 130,000,000 carats of diamonds are mined annually, with a total value of nearly US$9 billion. After they are mined, they can be used in industrial or gemstone purposes. In the industry rough diamonds are used to make diamond-tipped drill bits and saws, while diamond powder is used as an abrasive. For gemstone purposes, diamonds are cut and polished.
Diamonds market is a rather closed one. There are just a few locations where diamonds are cut and polished. Also, when it comes to mining, few companies hold the monopoly on this job. Due to this, there have been a lot of controversies in the diamond business, with one of them being the poor stature of mining workers.
To find out the 10 countries that export the most diamonds in the world, we used the research made by Worlds Top Exports, who brought the top diamond exporting countries for 2014 based on a value of exports in USD. We took the 10 countries with the highest value of exported diamonds, thus forming our list.
If you would like to find out more about exports of expensive goods, check out our 10 countries that export the most gold in the world.
10. South Africa
Value: $2.4 billion
South Africa currently exports around 1.7% of all world’s diamonds. Diamonds were discovered in South Africa around 1867 and were a major reason why South Africa became one of Africa’s largest economies.
9. China
Value: $2.8 billion
China isn’t a large producer of rough diamonds, since the mines in China are accounted for about 0.14%. What makes China a large diamonds exporter is the fact that there are a lot of rough diamonds coming into the country for cutting and polishing purposes. A greater part of those diamonds is then exported, and a smaller part ends up on the domestic market.
8. Russia
Value: $5.1 billion
Russia presents the world’s largest diamond producer with having the one of the leading company for diamonds extraction and production. The most interesting thing in the recent years related to diamonds in Russia was the discovery of diamonds in the Popigai crater in Siberia. If the calculations are right, crater alone could satisfy the world’s need for diamonds for the next 3,000 years.
7. Botswana
Value: $6.7 billion
Botswana is taking big steps in the diamond export business, increasing their value of exports by more than 100% since 2010. Botswana has the world’s largest and richest diamond mine, so diamonds represent the country’s number one export.
6. United Arab Emirates
Value: $9.2 billion
Unlike some other countries on our list of 10 countries that export the most diamonds in the world, United Arab Emirates have declined in the diamonds export value by 40% since 2010. Despite this, it is expected that the country will stay as one of the top diamonds exporting countries in the years to come.
5. Hong Kong
Value: $16.1 billion
Hong Kong is emerging as one of the top jewelry producing countries in the world with high exports of pure gold items, jade, rough and industrial diamonds. Although diamond export increased by 15% in 2014, it declined in 2015 by 4%.
4. Israel
Value: $20.5 billion
Israel is one of the biggest players on the diamond market in the whole world. The country is one of three major polish centers, accounting for around 10% of all polished diamonds. Diamonds are extremely important for the country’s economy, accounting for 24% of all exports.
3. Belgium
Value: $20.6 billion
Belgium is the home of the world’s diamond center, Antwerp. The title is surely deserved since “80% of all rough diamonds, 50% of all cut diamonds and more than 50% of all rough, cut and industrial diamonds combined” are handled in Antwerp. Due to this fact, diamonds are a great part of the country’s economy, making 10% of all country’s exports
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2. United States
Value: $21.3 billion
The other great international diamond center is located in the United States. New York is the place where diamonds are sold. It is estimated that 80% of the world’s diamonds are sold here. Also more than 90% of the diamonds in the United States at some point pass through New York.
1. India
Value: $24.1 billion
Thanks to the fact that city of Surat is the largest diamond polishing location in the world, India claims the top spot among our 10 countries that export the most diamonds in the world. In 2003, Surat was polishing almost 93% of all world’s diamonds, and it holds roughly the same percentage now. It is expected that there would be a small crisis in the diamond industry in India and that both imports and exports are going to decrease.
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