Trade in rough diamonds soars

Total trade in rough diamonds in Dubai grew 32 per cent to $1.5 billion in the first quarter of 2008, compared to the same period a year earlier, the Dubai Diamond Exchange (DDE) said yesterday.

The value of Dubai's rough diamond imports rose 23 per cent to $611 million (Dh2.2 billion), while exports surged 39 per cent to $915m, the DDE said in a statement without giving volume figures.

Dubai exported $2.82bn worth of rough diamonds in 2007, while imports for the same period stood at $2 billion, mainly from Russia, South Africa and Angola.

"Despite global concerns over rising prices, Dubai's rough diamond trade continues to grow steadily," Youri Steverlynck, chief executive of DDE, said in the statement.

 

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