CURRENT PROBLEMS OF WORLD DIAMOND INDUSTRY DEVELOPMENT

S. Yu. Chernikov ()

Russian Journal of Industrial Economics, 2015, issue 4

Abstract: The modern diamond industry is an important link in the global economy. Industry extraction and export of rough diamonds provide a significant portion of GDP in the economies of many developing countries. Developed countries, such as Belgium, the Netherlands, Israel, the UK, gain substantial profits from the processing, sorting, cutting diamonds coming and, of course, the further distribution of final products. This sector is of great economic and social interest for Russia, which today is the largest supplier of diamonds to the world market (in physical volumes). The majority of natural diamonds are used in jewelry, and the total amount of end- products exceeds estimated more than 70 billion dollars. However, the modern diamond industry faces a number of structural problems that can drastically change the image of the sector over the next 5 years.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2015:id:127

DOI: 10.17073/2072-1633-2014-4-131-134

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