Russia led the world's diamond production by both volume and value in 2009, the Annual Global Summary, released this week by the Kimberley Process Certification Scheme, reported.

Russia produced 34.7 million carats ($2.34 billion) of rough diamonds and its exports reached 14.7 million carats, valued at $1.2 billion. This represents a drop-off from 2008, in which Russia produced 36.925 carats of rough diamonds worth $2.51 billion.

The Democratic Republic of Congo followed Russia in volume in 2009, producing 21.2 million carats of diamonds worth $225.8 million and exporting 18.2 million carats valued at $248.4 million.

Third was Botswana, which produced 17.7 million carats ($1.436 billion). The African nation exported over 21.5 million carats worth about $2 billion.

Australia, the world's main source of fancy pink diamonds, produced 15.6 million carats ($313 million) over the course of 2009, with exports reaching 12.3 million carats or $282 million.

Worldwide diamond production was down in 2009, with only $8.63 billion worth of diamonds produced compared to $12.73 worth of diamond produced in 2008.

The European Community and India combined imported 65% of the world's rough diamonds by value – 37% and 28%, respectively – although India's import volume, 119.7 million carats, exceeded that of Europe's.

The European Community also toted up the largest percentage of rough diamond exports (38%) by both volume and value.

Israel accounted for 12% of diamond imports and 10% of diamond exports.