Dubai Rough Diamond Trade Reaches $3.93 Billion in 2006

The total trade in rough diamonds in Dubai reached $3.93 billion in 2006, up from $3.73 billion in 2005, according to the Dubai Diamond Exchange (DDE), a subsidiary of the Dubai Multi Commodities Centre (DMCC). Rough diamond imports to the emirate reached $1.56 billion in 2006, while exports stood at $2.37 billion for the same period.

In terms of carat, a total of 84.6 million carats were traded in 2006, compared to 71.2 million in 2005. Carat imports increased by 15 percent in 2006, while exports registered a significant increase of 23 percent during the same period.

Ahmed bin Sulayem, Chief Operating Officer of DMCC and Deputy Chairman of the DDE said: “In the short span of four years since the establishment of the DMCC, Dubai has emerged as a significant rough diamond trading center, as it offers an excellent value proposition to all stakeholders of the diamond industry.”

Youri Steverlynck, the newly appointed Chief Executive Officer of the Dubai Diamond Exchange, said: “DMCC is taking steps to boost the rough diamond trade in the emirate. Our recently announced Master Plan for the diamond sector commits to developing special programs for mining companies, which will facilitate diamond producers to market their goods through Dubai. We will also further tighten the co-operation with diamond-producing countries and look for partnerships to the benefit of all.”