Dubai’s total diamond trade increased by 53 % in 2007 to USD $ 11.23 billion, as demonstrated by statistics released recently by the Dubai Diamond Exchange (DDE), a subsidiary of the Dubai Multi Commodities Centre (DMCC). The Emirate’s rough diamond trade recorded a 29 % increase over 2006 to USD $ 4.82 billion while trade in polished diamonds increased by an impressive 88 % to USD $ 6.41 billion.
“2007 was a year of record growth for the UAE diamond trade which has crossed the psychological mark of USD $ 10.0 billion,” said Ahmed Bin Sulayem, Executive Chairman, DMCC. Polished diamonds imports to Dubai increased by 73 % to USD $ 3.68 billion, up from USD $ 2.12 billion in 2006.