2023 Dubai diamond trade reaches record $38.3bn, with polished diamond values growing 32% to $16.9bn.

Dubai's diamond trade reached a record $38.3bn in 2023, with polished diamond values growing 32% year-on-year to $16.9bn, according to DMCC. The UAE's prominent position as a global diamond trading centre and the rapid expansion of its polished segment now constitutes 44% of the total trade value. This growth is expected to continue in 2024, with the Gemological Institute of America opening a lab in Dubai in February.

March 13, 2024
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