China’s 2008 Diamond Trade Exceeds $ 1.3 Billion

China’s diamond trade through the Shanghai Diamond Exchange (SDE) rose 30.5 percent in 2008, totaling $1.307 billion, according to Diamond Administration of China (DAC). Diamond imports for consumption reached $500 million in 2008.

The country’s diamond imports slowed down in the fourth quarter due to the global financial crisis, yet annual imports increased 21.7 percent to $535 million. Practically all polished diamond imports, 99.4 percent, were imported for setting in jewelry, DAC stated.

Diamond exports totaled $772 million. DAC did not publish separate figures for polished and rough diamonds.

According to DAC, trade between SDE members reached $100 million in 2008, growing 78.6 percent from the prior year. The SDE has 230 members, 21 of them joined in 2008.