Global diamond jewellery sales hit new record high in 2014: report

Global diamond jewelry sales increased by three percent to a new record high of 81 billion U.S. dollars in 2014, as the main markets including the United States, China and India saw a steady growth, according to an industry insight report published Friday by the De Beers Group of Companies.

Diamond Jewelry sales in the United States increased by seven percent to 37 billion dollars, leading the growth among main markets in terms of current exchange rates. China and India registered a growth of six percent and three percent respectively, while Japan and the Gulf both saw a two percent increase.

At constant exchange rates, global growth amounted to around five percent, said De Beers.

Currently, the United States takes up a share of 42 percent of the global polished diamond demand, followed by China (16 percent), India (8 percent), the Gulf (8 percent) and Japan (5 percent).

The company expects a further growth in diamond jewelry sales across all main markets in local currency terms in 2015, of which the U.S. and India's markets will see the highest optimism.

"Lower oil prices and high consumer confidence, especially in the U.S., could boost growth in demand for diamonds," it said.

De Beers is a member of the Anglo American group, which is headquartered in London with shares listed on the London Stock Exchange. De Beers, established in 1888, is one of the major players in the diamonds industry. Endit