Which Country is the Largest Producer of Diamonds?

Follow Us on

Add us on Google News Twitter

Which Country is the Largest Producer of Diamonds?

Russia is currently the world’s largest producer of diamonds, especially rough diamonds, both by volume and by overall value, and it has held that top spot through 2023 and into the latest 2024 data.

The largest producer of diamonds in the world right now is Russia, leading by a clear margin in total rough diamond output. In 2023, Russia mined about 37.3 million carats of diamonds, comfortably ahead of Botswana and Canada, which produced around 25.1 million and 16 million carats, respectively.

For anyone who grew up hearing “Africa is where all the diamonds come from,” this can feel a bit surprising at first, but the numbers have been telling this story for years.

Russia’s dominance is not a tiny lead; recent estimates show it accounts for roughly a third of global rough diamond production by volume and close to a third by value as well.

That means if someone lines up three random rough diamonds from mines around the world, chances are good that one of them began its journey in a Russian deposit.

Why Russia is Number One?

Russia ranks first mainly because it combines huge diamond reserves, large-scale industrial mines, and decades of mining know‑how under companies like ALROSA.

Some deposits in Siberia have been producing high volumes for so long that local mining towns treat diamond extraction almost like a normal 9‑to‑5 job, even though the pay‑off is literally buried treasure.

According to Kimberley Process–based statistics and global reviews, Russia’s rough diamond output recently made up about 32–35% of worldwide production by carats, with annual volumes still around the high‑30‑million‑carat mark.

Even with sanctions from the US, EU and G7, reports show Russia retained its top producer position in 2023 and 2024, though trade flows and prices have become more complicated.

Top Diamond Producers

Here is a simple, slightly informal snapshot of leading producers by volume based on recent 2023–2024 figures:

• Russia – ~37 million carats per year, clear number one in mined volume.

• Botswana – ~25 million carats, very high value per carat and strong reputation for ethical governance.

• Canada – ~16 million carats, known for “conflict‑free” branding and tough environmental standards.

• Others in the mix – DR Congo, South Africa, Angola, and a few more, contributing the rest of global supply.

For readers tracking resources, trade, or just prepping for GK and current affairs, the key takeaway for 2026 is simple: Russia is the largest producer of diamonds in the world, while Botswana remains its closest rival and a star when it comes to diamond value and development story.