De Beers ‘Diamond Insight Report 2015’ shows growth in each of the top five diamond markets, which account for 75 percent of global demand, with sales reaching a record $80 billion worldwide in 2014.
The report states that growth would have reached close to 5 percent were it not for the strengthening of the U.S. dollar against the currencies of several of the major diamond consumer markets towards the end of 2014.
The 7 percent growth rate posted by the United States was the strongest of any of the main global markets De Beers reported.
Looking forward to this year, De Beers predicts that growth will stand still due to the ongoing strengthening of the dollar against all major currencies, together with a slowdown in China's economy.
Consequently, worldwide diamond jewelry demand is likely to be relatively flat compared with 2014.
Rough diamond sales jumped 12 percent last year to more than $20 billion in value.
De Beers and Russia's ALROSA remained the largest rough diamond producers in 2014, accounting for 56 percent of global sales by value.
In volume terms, total rough diamond production slipped 3 percent to around 142 million carats in 2014. The total production value was more than $19 billion, an increase of approximately 6 percent on 2013.
