Dubai Diamonds27 Jun 2025 22:02
Continues to solidify its position as a leading global diamond hub, with significant trading activity and new developments in the industry. The UAE, particularly Dubai, has seen substantial diamond trade volume, with over 1 billion carats traded in the past five years according to the Government of Dubai Media Office. Furthermore, Dubai is known for its competitive diamond prices due to tax-free shopping and efficient trading practices according to fergusjames.com. Recent initiatives like the launch of a digital traceability platform and expansions by organizations like GIA further enhance Dubai's diamond industry.
Key Developments:
High Trading Volume:
Dubai has become a major center for both rough and polished diamond trade, with over 1 billion carats traded in the past five years according to the Government of Dubai Media Office. In 2024 alone, almost 179 million carats were traded according to the Government of Dubai Media Office.
Digital Traceability:
The UAE Chairmanship of the Kimberley Process (KP) launched Verifico, a digital platform to enhance the security and traceability of KP certificates.
GIA Expands Services: