Sunday, November 13, 2011

Dubai’s Diamond Trade Hits Record Volume of 206 Million Carats

The total volume of diamonds traded in Dubai reached 206.1 million carats in the first half of 2011 alone, a 57% increase on the 131 million carats traded in H1 2010; with values increasing to $25.3 billion from $16.3 billion, according to a press release from the Dubai Multi Commodities Centre.

Dubai’s rough diamond trade in the first six months of 2011 nearly doubled to 108 million carats whilst also exceeding 2010's full year trade of 105.1 million carats.

Export of polished diamonds totaled 46.8 million carats ($9.7 billion), a 40% rise from H1 2010's 33.3 million carats ($6.7 billion); whilst net imports rose to 51.3 million carats ($9.7 billion), up 17% from 43.8 million carats ($6.4 billion). Together, polished diamonds traded 98.1 million carats at a value of $19.4 billion in H1 2011.

DMCC Executive Chairman Ahmed Bin Sulayem said that the record diamond t volumes seen in 2011 were a “testimony to Dubai's global standing in the diamond industry. DMCC is proud to have cemented Dubai's place amongst the top three diamond centers in the world.”

"In less than 10 years Dubai has become a top trading center for rough diamonds,” Bin Sulayem added.

Source:israeli diamond

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