Angola’s 2007 Production Inches Up to 9.7 Mln Carats

Angola’s diamond production in 2007 totaled 9.7 million carats, of which 8.6 million carats were from the formal sector. Another 1.1 million carats were mined by artisanal producers. In 2006, the country produced 9.4 million carats.

The 2007 production, ANGOP reported, generated an estimated $1.27 billion in revenues, according to Angola’s national diamond company ENDIAMA. This represents an average value of $130 per carat (p/c).

The country’s production fell shy of its production goal of 10 million carats a year set for 2006. In that year, it reached 9.4 million carats, a 32.22 percent increase over 2005 figures.

Earlier this month Dubai released its import and exports trade figures of rough diamonds in 2007, which included rough imports from Angola. According to it, Angola exported to Dubai 5.297 million carats worth $636.05 million – an average of $120.08 p/c.

Dubai is a growing destination for Angola’s goods. In 2006, 32 percent (3.008 million carats) of exports were shipped to Dubai, a number that grew to 54.61 percent in 2007.

The U.S. was a relatively minor destination, but the higher value goods seemed to have been shipped there. According to recently released U.S. import figures, Angola was the source of 8,848 carats, which were valued at $43.5 million dollars, an average of $4,916.44 p/c.