Dubai's rough diamond trade in H1 reaches $3 billion
Dubai's total trade of rough diamonds in the first six months of 2008 has increased by 36 per cent to reach $3.03 billion, Dubai Diamond Exchange (DDE), a subsidiary of the Dubai Multi Commodities Centre (DMCC), has said.
By PTI |
DUBAI: Dubai's total trade of rough diamonds in the first six months of 2008 has increased by 36 per cent to reach $3.03 billion, Dubai Diamond Exchange (DDE), a subsidiary of the Dubai Multi Commodities Centre (DMCC), has said.
Rough diamond imports to the Emirate during the period grew by 23 per cent to reach $1.15 billion from $937 million in the same period last year. High volumes of imports from Angola (75 per cent) and a 138 per cent rise from China have attributed to the rise in trade.
Exports in the first half of 2008 rose by 44 per cent to reach a total of $1.88 billion from $1.3 billion for the same period in the previous year. Over 87 per cent of Dubai's rough diamond exports were to the countries of the European Commission (EC) and India, while Dubai's exports to China also increased significantly.
Angola, India, EC and China are the top diamond trade partners for Dubai, and they jointly accounted for around 85 per cent of the total trade volumes. Ahmed Bin Sulayem, the executive chairman of DMCC and deputy chairman of DDE, said: "We have witnessed healthy growth in bilateral trade with various countries, reflecting the growing confidence in the trading infrastructure and opportunities offered by Dubai."
He highlighted that earlier this year DMCC had signed significant MoUs with People's Government of Panyu District, China, and Gems & Jewellery Trade Association of China (GAC), for promotion of jewellery trade between the two countries, with a special focus on diamonds and coloured stones.
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