Top 10 Diamond Producing Nations in the World
15:00 22.10.2023 (Updated: 14:49 23.10.2023)
Only 22 countries in the world are involved in the production of rough diamonds, also known as uncut, raw or natural diamonds, by mining deposits within their territories. Since the 1870s, most of the world's high-quality diamonds have been mined in Africa.
In recent decades, diamond production has expanded to various regions worldwide. In particular, the diamond industry in Russia and Canada has grown rapidly, with the countries currently producing almost half of the world's diamonds. However, the core of gem-quality diamond production remains in Africa.
Africa's remarkable contribution to the worldwide diamond industry is brilliantly highlighted in the Kimberley Process Certification Scheme's data for 2022. Eight African nations rightfully secured their positions among the top ten diamond producers globally, underscoring Africa's lasting significance in the industry.
The continent is the largest rough diamond producing region, representing 51% of output by weight, and 66% by value. Africa's total production value exceeded $10 billion in 2022.
Russia claims the top spot as the world's largest rough diamond producer, with a mined output of almost 42 million carats, significantly ahead of its peers. Botswana ranks second with 24.8 million carats and Canada third with 16.2 million carats.
However, higher carat weight alone does not guarantee a higher value for a diamond. In addition to carat weight, other factors such as cut, color, and clarity also play a significant role in determining a diamond’s value. For example, although Botswana produced around 60% of Russia's diamond weight in 2022, its trade value was almost $5 billion, about one and a half times higher than Russia's value for the same year. Angola ranks as the 6th largest diamond producer, but 3rd in terms of diamond value.
Check out Sputnik's infographic to learn more about the world's largest diamond producers: