Dubai's rough diamond trade up 32%

Dubai: Total trade in rough diamonds in Dubai grew 32 per cent to $1.5 billion in the first quarter of 2008, compared to the same period a year earlier, the Dubai Diamond Exchange (DDE) said on Monday.

The value of Dubai's rough diamond imports rose 23 per cent to $611 million, while exports surged 39 per cent to $915 million, the DDE said in a statement without giving volume figures.

Dubai exported $2.82 billion worth of rough diamonds in 2007, while imports for the same period stood at $2 billion.

"Despite global concerns over rising prices, Dubai's rough diamond trade continues to grow steadily," Youri Steverlynck, chief executive of DDE, said in the statement.