Dubai Diamond Trade +32% in 1Q07
The Dubai Diamond Exchange (DDE) reported that Dubai’s rough diamond trade increased 32 percent to $1.5 billion in the first quarter of 2008, boosted by a rise in both exports and imports.
Rough exports from Dubai grew 39 percent to $915.08 million during the three months, with sales to China showing the largest increase of 671 percent to $87.28 million.
Rough exports to Europe (including Belgium, the United Kingdom, Germany and Ireland) rose 50 percent to $458.23 million, and exports to India grew 19 percent to $226.77 million. Dubai’s rough exports also rose significantly to South Africa (by 75 percent) and to the United states (by 32 percent.) Declines were seen in exports to Switzerland, Lebanon and Armenia.
Rough imports to Dubai for January through March grew 23 percent to $611.45 million boosted by a surge in supply from Angola.
Imports from Angola rose 60 percent to $24 million in the three month period, while rough diamond supply from the European Commission rose 36 percent to $180.88 million. Other increases in supply came from Switzerland, China and Lebanon.
Dubai imported less rough from India, Russia, the United States and the Democratic Republic of the Congo.
Separately, the DDE re-launched its rough diamond tenders in May, selling run of mine production from southern Africa.
DDE reported that 96 percent of goods were sold in the May tender with companies from Dubai, Antwerp, New York, Mumbai, and Israel participating.
A total 28,000 carats were sold for an undisclosed amount, DDE said.
The next tender is scheduled to take place June 8 to 10, 2008.
/Diamonds.net/
Rough exports from Dubai grew 39 percent to $915.08 million during the three months, with sales to China showing the largest increase of 671 percent to $87.28 million.
Rough exports to Europe (including Belgium, the United Kingdom, Germany and Ireland) rose 50 percent to $458.23 million, and exports to India grew 19 percent to $226.77 million. Dubai’s rough exports also rose significantly to South Africa (by 75 percent) and to the United states (by 32 percent.) Declines were seen in exports to Switzerland, Lebanon and Armenia.
Rough imports to Dubai for January through March grew 23 percent to $611.45 million boosted by a surge in supply from Angola.
Imports from Angola rose 60 percent to $24 million in the three month period, while rough diamond supply from the European Commission rose 36 percent to $180.88 million. Other increases in supply came from Switzerland, China and Lebanon.
Dubai imported less rough from India, Russia, the United States and the Democratic Republic of the Congo.
Separately, the DDE re-launched its rough diamond tenders in May, selling run of mine production from southern Africa.
DDE reported that 96 percent of goods were sold in the May tender with companies from Dubai, Antwerp, New York, Mumbai, and Israel participating.
A total 28,000 carats were sold for an undisclosed amount, DDE said.
The next tender is scheduled to take place June 8 to 10, 2008.
/Diamonds.net/
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