Angola Overtakes Botswana as World’s Top Diamond Producer for First Time in Two Decades
For the first time in 20 years, Botswana has lost its crown as the world’s leading diamond producer by value, with Angola edging ahead in 2024, according to data from the Kimberley Process (KP).
Botswana’s diamond output fell sharply to 18.13 million carats worth US$1.36 billion in 2024, down 27.8% in volume and 58.6% in value from the previous year.
By contrast, Angola produced 14.03 million carats valued at US$1.41 billion, a 43.8% increase in volume, though its revenue slipped 7.8% due to weaker prices.
Since KP began publishing diamond statistics in 2004, Botswana has consistently dominated global production, often generating more than double Angola’s output.
At its peak in 2022, Botswana produced US$4.7 billion worth of diamonds, compared with Angola’s US$1.96 billion.
Analysts note that the shift in 2024 reflects Botswana’s steep decline rather than a major surge from Angola.
The downturn stems from falling global demand and weaker prices, which pushed Botswana and its key partner De Beers to scale back extraction.
Angola, despite overtaking Botswana, has also been hit by falling prices, with the average per-carat value dropping from US$157 in 2023 to just US$100.68 in 2024.
Still, Angola’s state-owned diamond firm Endiama has set a revenue target of over US$2 billion for 2025.
Meanwhile, De Beers continues to struggle with reduced demand, reporting a 26% year-on-year drop in Botswana’s diamond production in the first half of 2025, totaling 9.7 million carats.
