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Total trade in rough diamonds in Dubai grew 32 % to USD $ 1.5 billion in the first quarter of 2008 compared to the same period in Q1-2007, the Dubai Diamond Exchange (DDE) CEO, Youri Steverlynck said in a recent statement.
The value of Dubai’s rough diamonds imports rose 23.0 % to USD $ 611.0 million while exports surged 39.0 % to USD $ 915.0 million. Dubai exported USD $ 2.82 billion worth of diamonds in 2007.
Meanwhile, retail diamond jewellery turnover in the GCC is worth about USD $ 2.0 billion a year and is expected to see a significant increase in 2008, the Dubai Chamber of Commerce & Industry has said. Saudi Arabia accounts for about 75.0 % of the total Gulf diamond jewellery trade.