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11/14/24, 12:37 PM UAE’s diamond trade to hit $40 billion in 2024: Juma Al Kait

UAE's diamond trade to hit $40 billion in 2024: Juma Al Kait

UAE

Me Business - Abu Dhabi 2024-11-11 17:54 PM

The UAE ranks third globally in the diamond trade after India and the United States, with a share of more than
15% of total international trade in this sector.

Juma Al Kait, Assistant Undersecretary for International Trade Affairs at the Ministry of Economy, in
statements to the Emirates News Agency (WAM) on the sidelines of the sixth edition of the Dubai Diamond

Conference, organised by the Dubai Multi Commodities Centre (DMCC) as part of Dubai Diamond Week, said
that the value of the UAE's diamond trade will exceed $40 billion this year.

Al Kait said that diamonds account for a large share of the UAE's non-oil trade, exceeding 5.5%, with the
value of diamond trade reaching nearly $39 billion in 2023, and during the first half of 2024 it reached about

$20 billion.

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