Dubai, Asharq Al-Awsat- The total trade in rough diamonds in Dubai reached US$3.93 billion in 2006, up from US$3.73 billion in 2005, according to the Dubai Diamond Exchange (DDE).
Rough diamond imports to the emirate reached US$1.56 billion in 2006, while exports stood at US$2.37 billion for the same period.
In terms of carat value, a total of 84.6 million carats were traded in 2006, compared to 71.2 million in 2005. Carat imports increased by 15 per cent in 2006, while exports registered a significant increase of 23 per cent during the same period.
Ahmed bin Sulayem, 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 centre, as it offers an excellent value proposition to all stakeholders of the diamond industry. The emirate’s position at the cross roads between Africa, Russia and the Asian Subcontinent enables it to offer fast and cost efficient marketing of the rough between these major diamond producing and manufacturing countries.”.