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FINANCIAL NEWS
Dubai’s H1 diamond trade soars 57%
14 Nov 2011
(MENAFN) Dubai Diamond Exchange (DDE) said that during the first six months of the year, volume of traded diamonds in Dubai surged 57 percent to 206.1 million carats compared with 131 million carats in 2010’s same period, reported Emirates 24/7.
The DDE added that the value of diamonds traded during the January-June period jumped more than 55 percent to USD25.3 billion, compared with last year’s USD16.3 billion.
The subsidiary of the Dubai Multi Commodities Centre Authority (DMCC) also said that the emirate’s export of polished diamonds grew 40 percent from last year’s same period of 33.3 million carats with a value of USD6.7 billion to 46.8 million carats with a value of USD9.7 billion, on the other hand, net imports of polished diamonds went up 17 percent from 2010’s 43.8 million carats valued at USD6.4 billion to 51.3 million carats with a value of USD9.7 billion.
It is worth noting that the surge in Dubai’s diamond trade was driven by India, Belgium, Hong Kong and Switzerland.
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