Updated Sep 26, 2022 11:47

Diamond Market in Poland

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
For the third consecutive year, the Polish diamond market recorded growth in sales value, which increased by % to $ in . In general, consumption saw a prominent expansion. Diamond consumption peaked at $ in 2014; however, from 2015 to , consumption stood at a somewhat lower figure.

In value terms, diamond production contracted to $ in estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2015; however, from 2016 to , production failed to regain momentum.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
In , consumption of diamonds and other precious stones (unworked) in Poland reduced slightly to tons, shrinking by -% compared with the previous year. In general, consumption, however, recorded strong growth. Diamond consumption peaked at tons in , and then shrank modestly in the following year.

The revenue of the diamond market in Poland dropped to $ in , waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate resilient growth. Over the period under review, the market attained the maximum level at $ in 2014; however, from 2015 to , consumption stood at a somewhat lower figure.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
The diamond market is expected to start a downward consumption trend over the next eight years. The performance of the market is forecast to decrease slightly, with an anticipated CAGR of -% for the eight-year period from to , which is projected to depress the market volume to tons by the end of .

In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Please note: Annual data for 2022 are preliminary and subject to revision
In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Please note: Annual data for 2022 are preliminary and subject to revision
Poland remains a net importer of diamond; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.