Share The COVID-19 pandemic caused diamond jewelry sales to fall 15% during 2020, but the industry saw significant sales growth during the last quarter, according to the 10th annual Global Diamond Report, coproduced by Bain & Co. and the Antwerp World Diamond Centre. Diamond jewelry sales climbed 5 to 10% in the U.S. during the fourth quarter of 2020 over the prior year, while they climbed 15 to 20% in China, the report found. Despite the struggles of the pandemic period, diamond jewelry performed better in 2020 than the overall personal luxury market, which saw sales fall 22%. Among the report’s other findings: Natural rough diamond production fell 20% to 111 million cts. Peak diamond production was in 2017, when 152 million cts. were mined. Diamond production is expected to be flat over the next few years, with very few new mines coming online.