Dubai Diamond Trade Sets Growth in 2010, Doubling to $35.1 Billion
April 12, 11
The volume of rough diamond imports rose 13% to 50.4 million carats while the value of these imports rose 83% to $3.3 billion. Rough diamond exports totaled 54.7 million carats worth $3.8 billion, rising 3% by value and 81% by value.
The stark difference between the increased volume of trade compared to the sharp increase in value highlights rising rough diamond prices in 2010.
Dubai’s diamond trade was mainly with India, Belgium, Hong Kong and Switzerland, with growing trade emerging from new markets such as Angola and the Democratic Republic of Congo, the DDE said.
“To facilitate the import and export of over $35 billion of diamonds through Dubai is an amazing achievement, especially under the challenging economic environment,” said Ahmed bin Sulayem, Executive Chairman of DMCC.
“As a result of our accomplishment, we are now one of the fastest growing diamond centers in the world, and service over 300 regional and international precious gem clients under one roof.”
The DDE is a subsidiary of the Dubai Multi Commodities Centre Authority (DMCC).