UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) has registered a 36.37% year-on-year (YoY) jump in the rough and polished diamonds trade to $11.03 billion in the first quarter (Q1) of 2022, compared to $8.09 billion.
The value of polished diamonds amounted to $4.02 billion in Q1-22, an annual leap of 79.84% from $2.23 billion, according to a press release.
Meanwhile, the UAE’s rough diamond trade surged by 19.74% to $7 billion during the January-March period of 2022, versus $5.85 billion in the year-ago period.
The diamond trade from Africa and Europe exceeded 96% of the UAE’s rough trade in the first three months (3M) of 2022.
The Executive Chairman and CEO of DMCC, Ahmed bin Sulayem, said: "The 80% increase in the value of polished diamonds traded in the UAE in Q1-22 clearly demonstrates that we are delivering against our target."
