The Dubai Multi Commodities Centre (DMCC) has reported a 17% year-on-year increase in the value of diamond trade in 2022, totalling $37.4 billion. According to Rough & Polished, there was “a 42% rise in the polished category and a consistently strong 7% rise in rough.”
Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC said that the figures “are further proof of Dubai’s monumental rise in the diamond trade […].”
In January, the DMCC said it had attracted 3,049 new businesses in 2022 – its best-ever year for new member company registrations and an increase of 23% year-on-year. According to a press release, the growth was “driven by prominent international demand, DMCC’s continued work within key commodities sectors, and the growing demand from blockchain and web3 businesses for space at the DMCC Crypto Centre, to the extent that the Crypto Centre is now home to over 500 companies.”
