Production market value of diamonds worldwide 2023, by country

Botswana's diamond production from mines in 2023 had a total value of 3.28 billion U.S. dollars. During the same year, Russian diamond mine production had a total value amounting to 3.6 billion U.S. dollars. Accordingly, Botswana and Russia were the world's first and second leading countries, respectively, based on diamond production value. 
The diamond industry, unlike precious metals and other natural resources, relies almost exclusively on consumer demand for diamond jewelry. The diamond industry is expected to flourish despite weak global economic growth.