How Dubai built a $41.7 billion diamond economy

Dubai is continuing to strengthen its position as one of the world’s leading centers for the global diamond trade, with new figures highlighting the emirate’s growing role in connecting producers, manufacturers, and consumer markets across continents.

According to Dubai Customs data released by DMCC, Dubai’s diamond trade reached a record $41.7 billion in 2025, surpassing the previous high of $40.9 billion recorded in 2011. The emirate also traded a record 359.5 million carats, up 42.5% year-on-year, making 2025 the first year in which Dubai achieved record highs in both trade value and physical volume.

Overall diamond trade increased 16.2% from $35.8 billion in 2024, while coloured gemstones reached a new milestone, with trade rising 48% to $1.1 billion.

The latest figures highlight Dubai’s long-term growth as a global trading hub. Since 2020, diamond trade through the emirate has increased 139% in value and 100% in volume, reflecting sustained investment in infrastructure, logistics, and market connectivity.

Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC, said, “Dubai’s latest diamond trade figures demonstrate the success of a long-term strategy to build the world’s most connected, transparent, and efficient precious stones ecosystem. Since the Covid-19 pandemic in 2020, we have seen trade through Dubai double in physical volume and grow by almost 140% in value. For natural polished diamonds alone, value has grown by 246%. We are the partner of choice for producers, manufacturers, traders, and retailers across the global industry. Through world-class infrastructure, regulatory certainty, access to finance, and one of the world’s most sophisticated ecosystems for precious stones, we will continue to provide the platform the industry needs to grow.”

Natural diamonds remained the sector’s largest contributor, accounting for 95.8% of total diamond trade value, or $39.9 billion, in 2025. Trade in natural polished diamonds rose nearly 25% year-on-year to $18.7 billion, while coloured gemstones continued to gain momentum, reflecting the broader diversification of Dubai’s precious stones ecosystem.