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Despite producing 33% fewer carats than Russia, Botswana's $3.3B production value nearly matched Russia’s $3.6B in 2023
  • Russia is the volume leader with 37.3M carats, nearly 1.5× Botswana’s 25.1M carats.
  • Botswana punches above its weight: though producing 33% fewer carats than Russia, its output value almost matches Russia's due to higher value per carat price.
  • Eight of the top 10 producers are African (Botswana, Angola, DR Congo, South Africa, Zimbabwe, Namibia, Sierra Leone, Lesotho).
  • Low-volume producers like Namibia (2.4M ct → $1.2B) highlight how smaller deposits can yield high-value diamonds.


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