Global sales of diamond jewellery in 2018 amounted to $85.9 billion, a growth of 4 percent over sales in 2017. The 5 percent rate at which the market grew, however, was lower than in 2017, mainly as a result of a slowdown in key consumption markets in the second half of 2018.
There was persistently high demand from the local population and tourists in the key consumption markets in the first half of the year, resulting in a 6 percent growth in sales. Consumer demand in non-dollar countries began to show less steady growth rates in the second half of the year, dropping to just 2 percent, driven down mainly by local currencies weakening against the US dollar.
Diamond jewellery sales in North America, which accounts for more than half of overall sales, showed consistently high growth rates for most of the year, providing a 4 percent increase in 2018 compared with the previous year.
Sales in Asia (including South East Asia and India) showed higher growth rates than in North America in the first half of the year. In the second half, however, given the deterioration of the overall foreign economic situation in the region, the growth rate of diamond jewellery sales slowed down to a single percent, resulting in an overall growth of 5 percent by the end of 2018 — a comparable rate to the growth in the North American market.