Dubai's polished diamond industry faces high growth

All through 2007, Dubai has shown an indulgent polished diamond trade. Both its imports and exports have increased by a cumulative 88% to value at $6.41 billion when compared to 2006. The Dubai Diamond Exchange states that polished diamond imports hiked by 73% to $3.67 billion. The average price per carat was $269 per carat.

Polished diamond exports made a double jump, as it increased by almost twice its previous values. The exports stood at a 115% increase in value to $2.73 billion and 28% in volume terms to 9.33 million carats. The average value of polished exports was $293.

Amongst all recipients, India was the largest consumer and source for Duabi’s polished diamonds. Dubai’s imports from India grew by 88% to amount to $2.33 billion, averaging $226 per carat. It exported $1.63 billion polished diamonds to India, which indicates an almost triple in exports 192%. The average value of polished exports to India was $220 per carat.