Diamonds

Dubai's diamond gateway

Certified for security, quality and responsible stewardship

Diamonds play an illustrious role in Dubai's heritage as a gateway for global trade. In the space of just 15 years, Dubai has transformed into the world’s third largest diamond trading centre. It happened because we designed an environment that is safe, business-friendly, and that conveniently links producing and consuming markets.

DMCC’s investment in world-class infrastructure and services include the government-backed Dubai Diamond Exchange (DDE), our state-of-the-art vault and storage facilities, commitment to the Kimberley Process and the imminent upgrade of the DDE tender facility in 2019.

Trade through the DDE has rapidly expanded by building on strong connections with producers in Africa, cutting centres in Asia and consumers in Europe, the United States and China. Consequently, our members and global partners can trade with complete confidence while accessing new markets.

Dubai Diamond Exchange

The gateway to the global diamond trade

The Dubai Diamond Exchange (DDE) is a unique platform that offers access to a trusted framework for all aspects of diamond trade. Located in the iconic Almas Tower, DDE is the region’s first and only trading exchange for diamonds and coloured precious stones, and home to some of the most prestigious jewellery manufacturers, retailers and traders.

Through membership of the DDE, precious stones traders and service providers are connected to a globally accepted governance and trade practice framework and as such, benefit from access to new markets and greater trust that this brings.

Kimberley Process

Safeguarding lives worldwide by stemming the trade in conflict diamonds

Following a landmark United Nations resolution in 2000, the Kimberley Process (KP) was established to foster collaboration between governments, the international diamond industry and civil society organisations and reduce the worldwide flow of conflict diamonds.

The United Arab Emirates (UAE) was the first Arab country to become a signatory of the KP in 2003, and DMCC provides the only legitimate entry and exit point for rough diamonds in the country.

What is the objective of KP?

The objective of KP is to prevent illegitimate diamonds from entering the legitimate diamond trade, and ensure all its members clearly certify that shipments of rough diamonds are conflict free. With this certification, consumers are assured that the diamonds they purchase have not been used to finance war or abuse of human rights.

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Become a member of the KP

In the UAE, the Kimberley Process is implemented by the Ministry of Economy who has in turn, authorised DMCC to manage the country’s only entry and exit point. To ensure compliance with the requirements, we maintain strict requirements regarding the provision of mandatory documentation from each member of our rough diamond trading community.

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Diamonds in numbers

See the latest diamond statistics

Table 2.1 Import of polished diamonds

Volume in carats (millions) and value in USD (billions)

Year Volume Value
2012 52.61 7.26
2013 69.63 8.92
2014 56.04 6.45
2015 55.08 6.57
2016 56.48 6.42
2017 54.83 6.72
2018 33.69 4.21

Source: Dubai Customs 
The data has not been validated
 

Table 2.2 Export of polished diamonds

Volume in carats (millions) and value in USD (billions)

Year Volume Value
2012 34.52 5.35
2013 47.55 7.21
2014 36.74 5.39
2015 35.54 5.07
2016 35.64 4.76
2017 30.63 4.83
2018 23.47 3.96

Source: Dubai Customs 
The data has not been validated

For rough diamonds trade figures, please refer to Kimberley Process website: https://kimberleyprocessstatistics.org/