diamonds

Russia Decreased Diamond Export in Q1 2020

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    This article uses the data of the SeaNews Russian Foreign Trade Customs Statistics online service available for subscribers.

    According to SeaNews Russian Foreign Trade Customs Statistics online service, in Q1 2020 Russia exported 10.6 mn carats of diamonds, down 5.4% compared to the first quarter of 2019. In monetary terms, diamond export decreased by 6% to make $999.2 mn.

    In January-March 2020, Russian diamonds were exported to 16 countries. The major importers were Belgium, the UAE and India, while Yakutia was the main exporting region.

    The export of industrial diamonds remained at the last year’s level in terms of weight amounting to 2.4 mn carats. In monetary terms, it decreased by 21.1% down to $14.2 mn. Most of the Russian industrial diamonds originated from Yakutia and were shipped mainly to Belgium, India and the UAE.

    Non-industrial diamond export made 8.2 mn carats (-6.8%) worth $985.1 mn (-5.7%). More than half of these were shipped to Belgium, while significant shipments were also designated for India, the UAE and Israel. The main exporting region was Yakutia. Significant shipments were also made from Arkhangelsk Oblast and Moscow.

    In the first quarter of 2020, Russia’s diamonds export to Belgium decreased by 11.4% down to 6.8 mn carats worth $535 mn, down 12.3%. The major exporting region was Yakutia, some shipments were also made from Arkhangelsk Oblast, Moscow and other Russian regions.

    Shipments to the UAE amounted to 2.4 mn carats (+21.4%) worth $196.9 mn (+32%). Most of the shipments came from Yakutia. Also, there were significant export shipments of diamonds from Moscow.

    Almost all diamond shipments to India came from Yakutia. In physical terms, exports to this country increased by 20.2% up to 1.2 mn carats and by 14.1% up to $163.1 mn in terms of value.


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