Monday, April 10, 2006

Gems: Dubai's rough diamond trade hit $3.734 billion last year

The Dubai Diamond Exchange (DDE), a subsidiary of the Dubai Multi Commodities Centre (DMCC), reports that the total trade in rough diamonds in Dubai grew by a record 46.25 per cent in 2005, to US$3.734 billion, up from US$2.553 billion in 2004.

Dubai exported diamonds valued at US$ 2.248 billion in 2005 while imports for the same period touched US$1.484 billion.

Dr. David Rutledge, Chairman of Dubai Diamond Exchange, sais: "The UAE is one of the largest trading centres in the world for rough diamonds and is ideally located within the GCC region, which is the third largest consumer of diamond jewellery in the world, after the USA and Japan".