Nearly $12 billion worth of diamonds were produced worldwide in 2010, which marks almost a 40% increase over 2009's values, according to statistics released this week by the Kimberley Process Certification Scheme. It took just over 133.1 million carats to reach that figure. The average price per carat was approximately $90.13. In terms of diamond trading, imports and exports of diamonds respectively reached almost $38 billion globally.

According to the statistics, Russia reported the highest volume of diamonds produced last year, as it did in 2009, with 34.8 million carats. Coming in second was Botswana, which produced 22 million carats. However, in terms of value of diamonds, Botswana ranked first for 2010, with a total production value of $2.59 billion. Russia's production value was close behind at $2.38 billion, followed by Canada, which produced $2.3 billion worth of diamonds last year.

 

Canada's volume for 2010 was reported at 11.8 million carats. Other high volume producers for the past year include The Democratic Republic of Congo, which tallied 20.2 million carats (worth $174.3 million); South Africa, with 13.7 million carats (worth $1.8 billion); and Australia, with nearly 10 million carats (worth $252 million). In addition, Angola produced 8.4 million carats, while Zimbabwe racked up nearly 8.4 million carats of diamonds worth $340 million. Namibia produced 1.7 million carats worth $744 million.

India ranked first in diamond imports by volume, with a total of 165.2 million carats, making up nearly 40% of the import market. Israel came in fourth among diamond importers by volume, taking in 26.7 million carats last year and 6.5% of the market. However, by value, the European community imported the most ($13.6 billion), with Israel in the third slot ($4.4 billion).

Venezuela did not report its 2010 statistics because it has suspended diamond imports and exports, and the Ivory Coast, which is under UN sanctions, is not currently trading in rough diamonds, the report noted.