(diamonds.net) - The United Arab Emirates (UAE) has leapfrogged Belgium as the world’s largest exporter of rough diamonds, officials in Dubai said during a week of international jewelry events in the city. The local industry has capitalized on other diamond centers’ Covid-19 downturns, as well as favorable tax and financing situations. Dubai is also poised to develop as a trade-show venue amid difficulties bringing visitors to Hong Kong. Rough exports surged 98% year on year to $12.96 billion in 2021 and jumped 62% versus 2019’s figure, the Dubai Multi Commodities Centre (DMCC) reported Tuesday — the first time in many years that it had published detailed diamond-trade data. By volume, rough exports climbed 31% to 107.9 million carats. Belgium’s rough exports came to $11.12 billion for the same period.
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