Dubai strengthens Global Diamond Trade with over 1 billion carats traded in five years

Dubai has solidified its position as a leading global diamond trading hub, with over 1.06 billion carats of rough and polished diamonds transacted through the city over the past five years. In 2024 alone, nearly 179 million carats were traded, underscoring the United Arab Emirates’ pivotal role in the international diamond market.

These figures were disclosed by Ahmed Bin Sulayem, Chair of the Kimberley Process and Executive Chairman of the Dubai Multi Commodities Centre , during the UN-mandated KP Intersessional Meeting held at Uptown Tower in Dubai. The event convened hundreds of representatives from governments, industry, and civil society, marking a significant milestone in the UAE’s third tenure as KP Chair.

Under the theme“Year of Delivery,” the UAE’s 2024 chairmanship focused on implementing substantial reforms within the KP framework. A notable achievement was the introduction of a blockchain-based digital certification system, transitioning from traditional paper certificates. This innovation aims to enhance the traceability and security of diamond transactions, ensuring greater