DRC Diamond Exports Continue Strong Performance in Early 2024
In the first quarter of 2024, the Democratic Republic of Congo (DRC) reported diamond exports totaling 1,970,188.55 carats, generating revenues of USD 17.96 million, according to the Technical Cell for Coordination and Mining Planning (CTCPM). This underscores the DRC’s sustained significance in the global diamond industry.
The primary markets for Congolese diamonds remain Belgium and the United Arab Emirates, both of which play pivotal roles in the international diamond trade.
Belgium, historically a key diamond trading hub, imported 890,005.74 carats, valued at USD 7.28 million. Of these exports, industrial diamonds accounted for USD 4.29 million, while gemstones generated USD 2.99 million in revenue.
The United Arab Emirates closely follows Belgium, importing 1,017,101.71 carats, worth USD 9.65 million. The UAE has increasingly positioned itself as a dynamic trading platform, attracting a growing share of the DRC’s diamond exports. This shift highlights the UAE’s development strategy to become a prominent player in global diamond trading.
Other markets, such as India, China, and the United States, have a smaller share in the DRC’s diamond exports. India ranks third, importing 62,796.54 carats valued at USD 891,907, while China and Botswana show even more limited import volumes.
The United States imported just 32.50 carats worth USD 23,144, suggesting that some markets for DRC diamonds remain underexploited.
The export breakdown reveals a predominance of industrial diamonds, though gemstones still contribute significantly in specific markets. Belgium and the UAE together account for 96.2% of export volume and 94.9% of export value, pointing to a lack of geographical diversification.
This concentration prompts questions about the potential to expand the market and enhance the DRC’s position in the global diamond trade.
