Dubai’s pearl trade hits AED99 million in 2009

Dubai’s pearl trade hits AED99 million in 2009

Pearl trade in Dubai increased from AED95 million in 2008.

March 20, 2010 10:48 by kippreport

Pearl trade in Dubai increased from AED95 million in 2008 to AED99.6 million in 2009, thanks to a 30 percent rise in imports, the Dubai Pearl Exchange (DPE) announced on Saturday. Pearl trade in Dubai quadrupled in 2008 from 2007, it said. “Consumption levels for pearls in Dubai have also increased over the last year, reflected through lower exports than the previous year,” a statement from the DPE said.

In the natural pearls segment, volumes increased by 50 percent and values tripled, the exchange said. Natural pearl trade in Dubai has seen a monetary growth of over ten times in recent years, thanks to imports through Australia and India last year, and re-exports to new markets including Bahrain, Hong Kong and Switzerland, the statement added.