Diamond "Le Grand Mazarin" by Louis XIV: Hardly affordable
Photo: Martial Trezzini / dpa
The diamond industry, used to success, had to cope with heavy losses in 2020.
Global sales fell significantly at all levels of the production chain, as an analysis by the management consultancy Bain shows.
One important reason was the falling demand in the corona crisis.
Revenue from end customers fell 15 percent to an estimated $ 64 billion.
Rough diamond sales plummeted 33 percent to $ 8 billion.
The prices for rough diamonds fell by 11 percent.
The online trade in diamonds increased significantly.
In 2020 it made up around 20 percent of sales, in 2019 it was only 13 percent.
According to the authors of the study, there are currently more and more signs of a recovery in the industry.
Sales in the important markets of China and the USA rose significantly in the fourth quarter of 2020.
In addition, most mine operators reported higher sales and prices in January.
The purchase of diamonds is generally controversial.
Because rough diamonds are still being smuggled into rich countries that helped finance war and terror in African and South American countries.
There are international agreements against such illegal trade.
But some of the regulations are incomplete.
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