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CanadExport is the official source of news and advice on trade and investment opportunities around the world, for Canadian entrepreneurs who want to compete, partner and prosper in the global marketplace.						CanadExport Vol. 25, No. 2 (PDF)

Facts & Figures

January 12, 2007

Canada's young diamond industry is booming

Canada's diamond industry has grown tremendously in the past eight years. Canada is now the third-largest producer of rough diamonds¹ as of 2004, and diamond trade has risen commensurately. While Canada ran a $153 million trade deficit in diamonds in 1998, it posted a $1.4 billion surplus by 2005, reflecting an annual average growth rate in diamond exports of 53% over that period. Of the $1.9 billion worth of diamonds exported in 2005, 90% were sent to Belgium and the U.K.-Antwerp and London are the primary locations where the world's diamonds are sorted and sold-with the U.S. taking in 8%. Moreover, Canada's exports are of high value. In 2005, less than 1% of diamond exports were classed as industrial diamonds, while 32% were worked or unworked gems. The remaining 68% were as yet unsorted-but these too garnered a high price per carat, reflecting the high quality of Canada's diamonds.

1 Production measured by value, not carats.

Provided by the Office of the Chief Economist, Foreign Affairs and International Trade Canada.

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