Editor’s Note
The United Arab Emirates has emerged as the world’s leading hub for rough diamond trade, with transactions exceeding $22.8 billion in 2021, as announced by DMCC’s Executive Chairman and CEO, Ahmed Bin Sulayem. This milestone underscores the UAE’s pivotal role in the global diamond industry.
Ahmed Bin Sulayem, Executive Chairman and CEO of DMCC, announced that the United Arab Emirates has achieved the top position globally as a rough diamond trading hub, having traded over $22.8 billion worth in 2021.
According to the UAE’s official news agency, WAM, Sulayem made the statements during the panel at the Dubai Diamond Conference (DDC), held at the Dubai Multi Commodities Centre (DMCC) under the theme “The Future of Diamonds.” He added that the country’s polished diamond segment continues to grow at a good pace and is approaching the current market leader.
Since 2015, the UAE has increased its rough diamond trade by 76%, surpassing Belgium as the world’s leading rough diamond trading center. The total diamond trade in the UAE grew by 83% between 2020 and 2021, demonstrating both the resilience of the industry and Dubai’s fundamental role in the global sector.
The emirate has direct flights to other diamond centers worldwide, including mining countries in Africa and manufacturing centers in India, resulting in a supply chain connected with Dubai at its center. Furthermore, the city hosts the two Kimberly Process (KP) offices in the UAE, making it the sole entry point for rough diamonds into the country.
The fifth edition of the conference brought together 550 government officials, trade association members, and business leaders from across the supply chain, from miners and manufacturers to financiers and retailers.