05/03/2024

The diamond market is one of the most important aspects of global economic development. After all, diamonds are used not only for making jewelry. Diamonds are used in the electrical, radio-electronic and instrument-making industries.

Due to the properties of diamonds, they are used to produce parts in the aircraft and space industries.

Naturally, such products are valued and it is profitable to trade them. In modern realities, Russia and other diamond-mining countries are establishing partnerships with African countries.

Moreover, this is done with the participation of representatives of the cutting and retail industries of Asia and the Middle East.

In Russia, almost 90% of diamonds are produced by Alrosa. And there is an interesting point here. The diamonds it mines make up 30-35% of global production. This is the largest company that supplies diamonds for jewelry and industry. (Fine diamonds and low quality diamonds go there; they are ideal for these purposes).

If we talk about the export of Russian diamonds now, one thing is absolutely clear: there is simply no one to replace companies from Russia. And the industry will lose a lot by abandoning this product. The economy and people will suffer.

But it's not bad at all. Exports continue, it’s just that new players, new retailers, and new supply chains are appearing on the market. So when some lose, others win.