Industry News by Nemesis

Angola Diamond Exports Nosedive

December 12, 2019

Angola exported 706,900 carats of diamonds in October, a decline of 8.3% compared to the previous month, according to media reports citing data from the ministry of finance.

The drop was recorded despite substantial changes in the country’s diamond mining licenses and registration.

Angola exported 7.12 million cts since the beginning of the year, a 11.4% drop against the same period last year.

However, the drop in output was offset by higher average export price, which rose 4.2%, leading to export earnings just 7.7% weaker in 2019 compared to the same period in 2018.

Angola raised about $76 million in the first 10 months of the year from diamond taxes, a decline of 1.3 % when compared with the same period last year.


Source: Rough&Polished

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