Rough Trade in Dubai Jumps 31% to $1.08 Bln in Q3
December 05, 07
The Dubai Diamond Exchange (DDE), a subsidiary of the Dubai Multi Commodities Centre (DMCC), reported that third quarter total trade in rough diamonds in Dubai reached $1.08 billion in the third quarter of 2007, a 31 percent increase over the same period last year.
Rough diamond imports into Dubai totaled $447.6 million, a 32 percent rise from $337.4 million in the third quarter of 2006. Exports rose 30 percent from $490.5 to $640.2 million.
Ahmed bin Sulayem, executive chairman of the DMCC and deputy chairman of the DDE, commented that the DMCC had adopted a “Master Plan” Dubai’s diamond industry, one that would further develop a service economy supporting the diamond trade.
In line with this plan, the DMCC launched the International Diamond Laboratories (IDL) and appointed Jean Van der Donckt as special advisor – Diamond Banking to foster the growth of diamond banking in Dubai.