De Beers Group of Companies published diamond jewellery industry insight data on 27 April 2016.According to the data, the US remains the world’s largest diamond jewellery market and hits a new record of US$39 billion in 2015. At constant currency, global consumer demand for diamond jewellery grew by two percent. However, at actual exchange rates, global demand in US dollar terms suffered a two-percent decline compared to 2014, reaching US$79 billion in 2015.
Compared to 2014, demand by US consumers increased five percent as a result of sustained economic recovery, higher levels of job creation and wage growth. Its share of global polished diamond demand increased from 42 percent to 45 percent in 2015. Overall demand growth from Chinese consumers, including domestic and overseas purchases, grew by three percent in Chinese Yuan and one percent in US dollar.
The strong US dollar impacted demand growth in local currency terms. In the Indian market, demand dropped by four percent in local currency and nine percent in US dollar. While demand from Japanese consumers remained unchanged in the local currency, it declined by 13 percent in US dollar due to the Yen depreciation.
The Gulf region was under the influence of oil price weakness, geographical instability in the Middle East and fewer tourists from Russia and China, especially in the UAE. Diamond jewellery sales dropped by three percent in US dollar. As a result of macroeconomic weakness in emerging markets, demand for diamond jewellery in the rest of the world declined by 13 percent.
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