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DMCC Hosts ICA Congress in Dubai; UAE Diamond Trade Soars 17% to $37.4 Billion in 2022

The Dubai Multi Commodities Centre (DMCC) announced a 17% YoY increase in the value of diamond trade in 2022, totalling $37.4 billion. The figures combine the value of both rough and polished diamonds, with polished diamonds seeing a 42% rise, and rough diamonds experiencing a 7% rise. DMCC successfully kicked off the International Coloured Gemstone Association (ICA) Congress 2023 in Dubai, bringing together key industry stakeholders to advance the global trade of coloured gemstones.

The ICA Congress had a central focus on unlocking sustainable growth in the coloured gemstone industry. Ahmed Bin Sulayem, CEO of DMCC, wants to replicate Dubai's success with diamonds and other precious stones and commodities.

The ICA President, Clement Sabbagh, expressed confidence in DMCC's efforts to benefit all global players in the coloured gemstone space.

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