A recent report by the “Gold Observatory” has revealed a significant shift in Egypt’s natural diamond market, marking the first notable recovery in 2024 after two consecutive years of decline.
Data indicates a 145.5% annual growth in imports compared to 2023, reaching $301.87 thousand.
This comes despite an overall decrease of 56.8% in imports between 2021 and 2024, a period that saw the global diamond sector undergo extensive restructuring.
The report, based on World International Trade Statistics (WITS), clarifies that these figures pertain specifically to “loose” natural diamonds. Consequently, they do not fully capture the size of Egypt’s broader jewelry market, which includes finished diamond-encrusted pieces, wedding sets, and engagement rings—a sector where demand remains robust. India emerged as the leading supplier to Egypt in 2024, followed by Turkey and Thailand.
Looking ahead, international research institutions, including ReportLinker, project a positive trajectory for the Egyptian market, with total diamond imports expected to reach $960,000 by 2026.
While the global industry is currently navigating a correction phase following a slowdown in major markets, experts anticipate that the growth of Egypt’s luxury jewelry sector, fueled by evolving consumer demand and wedding industry trends, will sustain long-term market stability.
