DMCC said that a total of $11 billion of rough and polished diamonds were traded in the UAE in Q1 this year, up 36% from the same period in 2021, reaffirming Dubai\u2019s status as a world-leading diamond trade hub.<\/p>\n\n\n\n
The significant growth was led by an 80% increase in the value of polished diamonds traded, which reached $4 billion for the quarter. As the UAE looks to become the largest diamond trade hub for rough and polished combined, growth in this key polished demonstrates Dubai\u2019s ability to become a major polished distribution hub.<\/p>\n\n\n\n
Following a record 2021 performance in which the UAE became the world\u2019s leading hub for the rough diamond trade, the rough segment also saw strong growth in Q1, with a 20% year-on-year increase to $7 billion. Trade flows from Africa and Europe accounted for over 96% of the UAE\u2019s rough trade in Q1.<\/p>\n\n\n\n
Value Of Rough And Polished Diamonds Traded In The UAE (Import & Export)<\/strong><\/p>\n\n\n\n Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: \u201cAfter announcing that the UAE became the world\u2019s largest rough diamond trade hub at the Dubai Diamond Conference earlier this year, DMCC stated that it was swiftly growing in polished trade as well. The 80% increase in the value of polished diamonds traded in the UAE in the first quarter of 2022 clearly demonstrates that we are delivering against our target. Through DMCC\u2019s world-class facilities and services, along with a hyper-connected business environment, Dubai\u2019s diamond industry is truly flourishing across the board.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" DMCC said that a total of $11 billion of rough and polished diamonds were traded in the UAE in Q1 this year, up 36% from the same period in 2021, reaffirming Dubai\u2019s status as a world-leading diamond trade hub. The significant growth was led by an 80% increase in the value of polished diamonds traded,…<\/p>\n","protected":false},"author":1,"featured_media":15755,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-15749","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n<\/td> Q1 2021 (US$)<\/strong><\/td> Q1 2022 (US$)<\/strong><\/td> YoY change (%) <\/strong><\/td><\/tr> Rough Diamonds<\/strong><\/td> 5,852,206,031<\/td> 7,007,337,764<\/td> 19.74<\/td><\/tr> Polished Diamonds<\/strong><\/td> 2,239,728,350<\/td> 4,028,036,814<\/td> 79.84<\/td><\/tr> Rough and Polished Diamonds<\/strong><\/td> 8,091,934,381<\/td> 11,035,374,578<\/td> 36.37<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n