Measuring KP, Gov’t Rough Diamond Data for 2006

150 150 Rapaport News

RAPAPORT… Statistics on rough diamond trade released by the Kimberley Process (KP) on Thursday (July 19) and those directly reported from various federal agencies for 2006 differed somewhat. 

KP members are required to submit rough diamond production statistics on a semi-annual basis, and rough trade data quarterly, for annual collection in June. The data for year 2006 was released on July 19, a little late  due to logistical problems the organization contended.

When the KP first published country data in April 2007 (covering the years 2004 and 2005,) the organization warned that figures would not match-up exactly due to differing conceptual and methodological practices employed in gathering and reporting the data by the KP and respective governmental participants.

A sample comparison of KP and federal country data conducted by Rapaport News for three of the four major trading centers found that figures from Israel, India, and the United States were mostly lower than figures compiled by the KP.

Belgium rough diamond data was lumped in with the European Community according to KP method and could not be compared with federal statistics.  The European Community exported about $13.84 billion of rough, a drop of 6 percent from 2005, according to the KP.   Rough imports dropped 10 percent to $13.73 billion.

Israel imported $5.5 billion in rough (down 11 percent) and exported $3.5 billion (down 19 percent) during 2006 the KP data shows. Israel’s government reported $544 million less in rough imports. Rough exports were 22 percent less, or $750 million, by the government’s count.

As the largest importer of rough diamonds in the world, India’s government and the KP count were close with the federal import figure at $8.4 billion and KP’s figure of $8.55 billion (down 6 percent.) India logged rough exports at $812 million for the year, compared with the KP’s $546 million (down 9 percent.)

The United States Department of Commerce reported 2006 imports of $801 million, compared with the KP amount of $790 million (down 11 percent.) The figures for rough exports were $523 million (up 2 percent,) or $81 million more than what the government concluded.

In smaller trading centers: Dubai exported about $2.37 billion in rough (up 5 percent,) Thailand exported about $237.3 million (up 3 percent,) Switzerland exported about $1.7 billion (down 23 percent,) Japan exported $26.5 million (up 1 percent,) China produced $1.2 million (up 20 percent,) imported $1.7 billion (flat,) and exported $616 million (down 9 percent.) Lebanon exported $5.2 million, but the country was not on the list in 2005.

Data from the major mining countries were more in line with what the KP reported.  Angola reported 9.3 million carats in production valued at around $1.12 billion in 2006 compared with the KP’s 9.17 million carats at $1.13 billion (up 4 percent.)

Botswana’s production at 31.1 million carats was valued at approximately $4 billion by the government, while KP figures found 34.29 million carats were produced and valued at $3.3 billion (flat from 2005,) but imports doubled to $60 million.

Canada produced 12.3 million carats (up 7 percent) and exported $1.4 billion (up 2 percent.)

The Democratic Republic of the Congo (DRC) reportedly produced about 28.5 million carats valued at $409.48 million. The KP reported rough production at 28.99 million carats worth $431.9 million in 2006. The DRC exported $679.5 million (down 24 percent,) and 1.2 million more carats than what was produced, according to KP figures.

Brazil produced $6.3 million (down 71 percent) and exported $5.4 million (down 72 percent.)

Central Africa Republic produced $59 million (down 2 percent) and exported the same.

Guyana produced $44.4 million (up 3 percent) and exported $44.3 million (up 2 percent.)

Indonesia produced $10.6 million (more than double from 2005) and exported the same. 

Lesotho produced $83.5 million (up 30 percent) and exported exactly the same. 

Namibia produced $901 million (down 23 percent) and exported slightly less, which was still 28 percent higher than 2005.  

Russia produced $2.6 billion (up 4 percent) and exported $1.75 billion (up 3 percent.) 

Sierra Leone’s federal bank estimated that rough exports were about $210 million in 2006, the KP determined production of about $67 million (down 53 percent) and exports at about $125.3 million (down 11 percent.)

South Africa produced $1.36 billion (up 3 percent) and exported  $1.93 billion (down 10 percent.)

Venezuela produced about $1.18 million (down 68 percent) and did not show any exports however the government vowed to provide the data to KP.  

The KP found that Zimbabwe produced about $33.853 million of rough (down 8 percent) and exported $31.76 million (down 21 percent.)

Leave a Reply

Your email address will not be published.