Are natural diamonds rare?

Yes! Natural diamonds are incredibly rare, a fact that significantly contributes to their value. Global diamond recovery peaked in 2005, and since then, production has steadily decreased. In 2023, diamond production was 37% lower than in 2005, and the amount of diamonds recovered each year is so small that the entire annual recovery of all diamonds weighing 1 carat or more could fit into just one exercise ball. The formation of diamonds, which takes millions to billions of years, occurs in specific zones of the Earth, making them a finite and precious resource.