The Dubai Diamond Exchange (DDE) believes that “the UAE seeks to become the largest diamond trade hub for raw and polished combined,” according to highly encouraging statistics for the first quarter of 2022, according to IDEX Online.
Over $11 billion in trade, including $4 billion in polished commerce, has been reported by the DDE during the first quarter of 2022, an increase of nearly 80% year over year. The DDE announced in February that it would surpass Antwerp as the world’s leading trade centre for rough diamonds in 2021, with over $22.8 billion in sales. The DDE, which houses 1,150 diamond enterprises, was founded in 2002 as a component of the Dubai Multi Commodities Centre (DMCC).
“After announcing that the UAE became the world’s largest hub for the trade of rough diamonds, the 80% increase in the value of polished diamonds traded in the UAE in the first quarter of 2022 clearly demonstrates that we are delivering against our target,” said Ahmed Bin Sulayem, executive chairman and CEO of the DMCC.
