UAE becomes world’s rough diamond trade hub, overtaking Belgium: DMCC CEO

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The United Arab Emirates in 2021 became the top trading hub for rough diamonds, overtaking Belgium, the head of the Dubai Multi Commodities Centre (DMCC), home to the Dubai Diamond Exchange, said on Monday.

Over $22.8 billion of rough diamonds were traded through the Gulf state in 2021, Ahmed Bin Sulayem, DMCC CEO and executive chairman said, adding that the polished diamond sector continues to grow.

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Since 2015 the UAE’s rough diamond trade has grown by 76 percent.

The UAE’s total diamond trade grew 83 percent between 2020 and 2021, a statement from the DMCC CEO’s office said.

Read more: ‘New era of trade relations’: Dubai, Israel diamond exchanges sign agreement

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