11 Diamond Mining Countries in the World by Carats

1. Russia

Rough Diamond Production: 41,923,910 Carats

The diamond industry in Russia is of immense global significance, with the country being the world’s largest diamond producer, accounting for approximately 31% of global production, according to Lupicinio. In 2023, Russia produced 38.15 million carats of diamonds, reflecting a Compound Annual Growth Rate (CAGR) of 6.95% from 2020 to 2023, as given by Global Data. Russian diamond miners generate annual revenues of around $4.5 billion, underscoring the sector’s substantial economic impact, according to The Economist.

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