Namibia's diamonds outprice neighbours

Namibia recorded the highest average export value per carat of rough diamonds among producing countries in 2025, at N$4 657, according to the latest Kimberley Process statistics.

The figure was more than twice South Africa's average and nearly double Botswana's, highlighting the higher average value of Namibia's rough diamond exports relative to those of its regional competitors. Lesotho was a close second, at N$4 564 per carat.

The figures have been converted at an exchange rate of US$1 to N$16.49.

Small volumes, high value

Namibia produced 2.1 million carats of rough diamonds in 2025, accounting for just over 2% of global production of 98.8 million carats. Its output was valued at about N$11.9 billion, equivalent to 7.8% of the global production value of approximately N$152 billion.

The country's average production value was N$5 673 per carat, the highest among producing countries in the report. Lesotho followed at about N$5 459, while the global average was approximately N$1 541.

Namibia exported 2.05 million carats worth N$9.54 billion during the year, at an average export value of N$4, 657 per carat.

Botswana exported 22.11 million carats valued at N$51.3 billion, averaging N$2 324 per carat. South Africa exported 7.33 million carats worth N$13.69 billion, at an average of N$1 869.

Angola's average export value was about N$1 593 per carat, compared with N$1 406 for Russia and N$1 047 for Canada.

Rough diamond exports, 2025

Average export value per carat is not a measure of profitability. It reflects the mix of rough diamonds exported and prevailing market conditions, but does not account for mining, processing or other costs.

The statistics show substantial differences between producing countries. The Democratic Republic of Congo, for example, recorded an average export value of about N$121 per carat, compared with Namibia's N$4 657.

Namibia's production and export values also differ. Its rough diamonds were valued at an average of N$5 673 per carat at production, compared with N$4 657 per carat on export. The difference does not, by itself, indicate a loss of value, as production and export figures measure different flows.

Namibia also imported 70 716 carats of rough diamonds worth about N$1.03 billion in 2025. The Kimberley Process summary does not explain how these imports, inventory movements or differences in diamond composition affect the gap between production and export values.

The Kimberley Process Certification Scheme was established in 2003 to prevent conflict diamonds from entering the legitimate rough diamond trade. Its statistics track rough diamond production, imports and exports among participating countries.