China to drive diamond industry growth

Friday, September 19, 2014

Sales of diamond jewellery to Chinese consumers were the fastest growing in the world over the last decade, with a compound annual growth rate of 21 percent from 2003 to 2013.

According to the Diamond Insight Report released by De Beers this week, the USA is still the largest buyer of diamonds but the Chinese market is experiencing phenomenal growth.

As a result of the growth, the share of polished diamonds sold in jewellery to Chinese consumers grew from barely three percent in 2003 to just over 13 percent of global demand in 2013.

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