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Current Problems Of World Diamond Industry Development

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  • S. Yu. Chernikov

Abstract

The modern diamond industry is an important link in the global economy. Industry extraction and export of rough diamonds provide a significant portion of GDP in the economies of many developing countries. Developed countries, such as Belgium, the Netherlands, Israel, the UK, gain substantial profits from the processing, sorting, cutting diamonds coming and, of course, the further distribution of final products. This sector is of great economic and social interest for Russia, which today is the largest supplier of diamonds to the world market (in physical volumes). The majority of natural diamonds are used in jewelry, and the total amount of end- products exceeds estimated more than 70 billion dollars. However, the modern diamond industry faces a number of structural problems that can drastically change the image of the sector over the next 5 years.

Suggested Citation

  • S. Yu. Chernikov, 2015. "Current Problems Of World Diamond Industry Development," Russian Journal of Industrial Economics, MISIS, issue 4.
    • Handle: RePEc:ach:journl:y:2015:id:127
    DOI: 10.17073/2072-1633-2014-4-131-134
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    References listed on IDEAS

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    1. Hofmeester, Karin, 2013. "Shifting trajectories of diamond processing: from India to Europe and back, from the fifteenth century to the twentieth," Journal of Global History, Cambridge University Press, vol. 8(1), pages 25-49, March.
    2. Karin Hofmeester, 2013. "Shifting Trajectories of Diamond Processing: From India to Europe and Back, from the Fifteenth Century to the Twentieth," Palgrave Macmillan Books, in: Roman Grynberg & Letsema Mbayi (ed.), The Global Diamond Industry, chapter 1, pages 11-43, Palgrave Macmillan.
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