POST Online Media Lite Edition



 

U.S. consumer demand for diamond jewelry grows to record level

Staff writer |
Diamond jewelry demand by U.S. consumers hit a record level of $39 billion in 2015, according to The De Beers Group of Companies.

Article continues below






Demand by U.S. consumers increased five percent on 2014 levels as they benefited from the sustained economic recovery, higher levels of job creation and wage growth.

The U.S. remains the world’s largest market for diamond jewelry sales and increased its share of global polished diamond demand from 42 percent to 45 percent in 2015.

Chinese demand growth was also positive in 2015. Including acquisitions by Chinese abroad, the overall growth rate was three percent in RMB.

Demand from consumers in the Japanese, Indian and Gulf consumer markets saw some declines in local currency terms in 2015, with the strength of the US dollar further impacting growth rates when translated into US dollar terms.

At constant currency, global consumer demand for diamond jewelry grew by two percent.

However, the strength of the U.S. dollar during the year negatively impacted growth at actual exchange rates, with global consumer demand for diamond jewelry in U.S. dollar terms reaching $79 billion in 2015 – a two percent decline on the record $81 billion seen in 2014.


What to read next

Demand for diamond jewellery grew by 3%
Global gold demand up 21% in Q1 to 1,290 mt
Exceptional growth leads to record high silver demand