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FINANCIAL NEWS
Dubai diamond trade grows 22% in 2009
31 Mar 2010
(MENAFN) The Dubai Diamond Exchange (DDE), a subsidiary of Dubai Multi Commodities Centre Authority (DMCCA), said that the total diamond trade in Dubai has reached 182 million carats in 2009, 22 percent more than the 2008, Gulf News reported.
According to figures from the Dubai World Statistics Department, a total of 80 million carats of polished diamonds were traded through the Emirate in 2009 increasing by more than 150 percent from 2008 when 32 million carats were traded.
Rough diamond trade increased marginally by a little more than three percent and reached 97 million carats in comparison to 94 million carats in 2008, the department said.
The impact of lower global diamond prices was reflected in the reduced value of trade, which saw a 13 percent decline, reaching $ 18 billion in 2009 compared to $ 20.76 billion in 2008.
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