Kenya - Diamonds and Other Precious Stones (Unworked) - Market Analysis, Forecast, Size, Trends and Insights
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View PricingKenya: Diamond Market 2024
Diamond Market Size in Kenya
The Kenyan diamond market shrank dramatically to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, enjoyed a slight expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.
Diamond Production in Kenya
In value terms, diamond production expanded significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.
Diamond Exports
Exports from Kenya
In 2022, the amount of diamonds and other precious stones (unworked) exported from Kenya skyrocketed to X tons, growing by X% on 2021. Over the period under review, exports recorded a tangible expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, diamond exports expanded markedly to $X in 2022. In general, exports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
India (X tons), Thailand (X tons) and Hong Kong SAR (X tons) were the main destinations of diamond exports from Kenya, with a combined X% share of total exports. China, Singapore and the United States lagged somewhat behind, together comprising a further X%.
From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, India ($X), Thailand ($X) and Hong Kong SAR ($X) constituted the largest markets for diamond exported from Kenya worldwide, together comprising X% of total exports. The United States, China and Singapore lagged somewhat behind, together comprising a further X%.
Among the main countries of destination, Singapore, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Export Prices by Country
The average diamond export price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the export price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then reduced in the following year.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (X%), while the prices for the other major destinations experienced more modest paces of growth.
Diamond Imports
Imports into Kenya
In 2022, purchases abroad of diamonds and other precious stones (unworked) increased by X% to X kg for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, recorded a perceptible setback. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.
In value terms, diamond imports soared to $X in 2022. Over the period under review, imports posted resilient growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.
Imports by Country
Rwanda (X kg), Tanzania (X kg) and Ethiopia (X kg) were the main suppliers of diamond imports to Kenya, with a combined X% share of total imports.
From 2012 to 2022, the biggest increases were recorded for Tanzania (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Tanzania ($X) constituted the largest supplier of diamonds and other precious stones (unworked) to Kenya, comprising X% of total imports. The second position in the ranking was held by Rwanda ($X), with a X% share of total imports. It was followed by Ethiopia, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value from Tanzania totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Rwanda (X% per year) and Ethiopia (X% per year).
Import Prices by Country
The average diamond import price stood at $X,712 per ton in 2022, surging by X% against the previous year. Overall, the import price showed significant growth. The growth pace was the most rapid in 2013 when the average import price increased by X%. As a result, import price attained the peak level of $X,195 per ton; afterwards, it flattened through to 2022.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Tanzania ($X,488 per ton), while the price for South Africa ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the diamond market in Kenya. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 08992100 - Precious and semi-precious stones (excluding industrial diamonds), unworked or simply sawn or roughly shaped
Country coverage:
- Kenya
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Kenya
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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