According to the Dubai Diamond Exchange (DDE) the total trade in rough diamonds in Dubai grew 36 per cent to $3.03 billion in the first half of the year, compared to the same time last year. The value of Dubai’s rough diamond imports rose by 23 percent to $1.15bn, whereas exports pour in a excellent 44 percent to $1.88bn.

During last year Dubai exported $2.82bn worth of rough diamonds whilst imports for the matching period stood at $2bn. Imports were mainly from Russia, South Africa and the notorious Angola.The price of diamonds rose by 10 percent and helped push the overall trade to higher levels.

A sharp raise in rough diamond inventories held in Dubai were noted that strongly underlines Dubai’s status as a major distribution channel for the leading manufacturing markets globally.

Steverlynck said that the DDE plans to hold rough diamond sales weeks every month, starting from August 24. Further, the DDE is the only exchange in the constituency to service the diamond trade from mining to retail.