{"id":7809,"date":"2024-03-15T06:00:06","date_gmt":"2024-03-15T06:00:06","guid":{"rendered":"https:\/\/jewellerynewsindia.com\/?p=7809"},"modified":"2024-03-15T06:01:51","modified_gmt":"2024-03-15T06:01:51","slug":"dmcc-diamond-trade-reached-us38-3bn-in-2023","status":"publish","type":"post","link":"https:\/\/jewellerynewsindia.com\/index.php\/2024\/03\/15\/dmcc-diamond-trade-reached-us38-3bn-in-2023\/","title":{"rendered":"DMCC diamond trade reached US$38.3bn in 2023"},"content":{"rendered":"\n
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DMCC<\/a> has announced Dubai\u2019s diamond trade figures for 2023, headlined by 2% year-on-year growth in the value of rough and polished diamonds traded to reach USD 38.3 billion. This represents a five-year compound annual growth rate of 11%.<\/p>\n\n\n\n

Reflecting the UAE\u2019s status as one of the world\u2019s largest diamond trading hubs, the value of polished diamonds traded in the UAE grew 32% year-on-year to reach USD 16.9 billion. Dubai\u2019s diamond industry has historically centred on rough diamonds, becoming the world\u2019s largest rough diamond trade hub in 2021.<\/p>\n\n\n\n

However, the rapid growth of the UAE\u2019s polished segment means that it now accounts for 44% of the total trade value. This will be further buoyed in 2024 following the Gemological Institute of America<\/a>, a global leader in diamond grading, opening a key laboratory in Dubai in February.<\/p>\n\n\n\n

A total of USD 21.3 billion-worth of rough diamonds were traded in the UAE in 2023. Despite the global price of rough diamonds decreasing approximately 20% in 2023, the UAE\u2019s rough diamond trade only decreased 13% year-on-year by value whilst maintaining strong trading volumes.<\/p>\n\n\n\n

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC<\/a>, said: \u201cAt USD 38.3 billion in rough and polished trade last year, these figures are further proof of Dubai\u2019s meteoric rise as a global diamond trade hub. Our appeal to diamond industry segments across the world is exemplified by our ability to maintain strong trade volumes in rough whilst rapidly advancing polished and lab-grown diamonds. The polished segment now represents almost half of our diamond trade, consolidating our status as the world\u2019s number one hub for rough and polished and, with major industry players continuing to be drawn to Dubai away from the old hubs of yesterday, DMCC<\/a> will continue to set the benchmark for the services and value that diamond traders need to grow and prosper.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

DMCC has announced Dubai\u2019s diamond trade figures for 2023, headlined by 2% year-on-year growth in the value of rough and polished diamonds traded to reach USD 38.3 billion. This represents a five-year compound annual growth rate of 11%. Reflecting the UAE\u2019s status as one of the world\u2019s largest diamond trading hubs, the value of polished […]<\/p>\n","protected":false},"author":1,"featured_media":7810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\nDMCC diamond trade reached US$38.3bn in 2023 - JNI<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jewellerynewsindia.com\/index.php\/2024\/03\/15\/dmcc-diamond-trade-reached-us38-3bn-in-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DMCC diamond trade reached US$38.3bn in 2023 - JNI\" \/>\n<meta property=\"og:description\" content=\"DMCC has announced Dubai\u2019s diamond trade figures for 2023, headlined by 2% year-on-year growth in the value of rough and polished diamonds traded to reach USD 38.3 billion. 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href=\"https:\/\/jewellerynewsindia.com\/index.php\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","rttpg_excerpt":"DMCC has announced Dubai\u2019s diamond trade figures for 2023, headlined by 2% year-on-year growth in the value of rough and polished diamonds traded to reach USD 38.3 billion. This represents a five-year compound annual growth rate of 11%. Reflecting the UAE\u2019s status as one of the world\u2019s largest diamond trading hubs, the value of polished…","_links":{"self":[{"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/posts\/7809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/comments?post=7809"}],"version-history":[{"count":1,"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/posts\/7809\/revisions"}],"predecessor-version":[{"id":7812,"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/posts\/7809\/revisions\/7812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/media\/7810"}],"wp:attachment":[{"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/media?parent=7809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/categories?post=7809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jewellerynewsindia.com\/index.php\/wp-json\/wp\/v2\/tags?post=7809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}