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(Value in $ Billion)
Source: DeBeers Group 1
This chart is important because it shows changes of power in global production, most notably the emergence of Canada as a major player in the diamond industry. Canada has more than doubled its diamond production between 2002 and 2006 with the introduction of its Diavik mine. This represents one of the most salient shifts in diamond international trade patterns, and its implications for the future of the diamond industry are still a bit uncertain. We predict that Canada will continue to become an even more formadible force in the diamond production, as major firms continue to expand their mining operations. Russia, also, has become more influential, having increased its diamond production from $1.5 Billion to $2.3 Billion over the past 5 years. Global Diamond production has almost doubled from $7.4 billion in 2002 to $13.1 billion in 2006. The most important changes in the diamond industry are the overall growth of the market and the relative growh of Canada and to a lesser extent, Russia.
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