From 2013 to 2023, the export value of diamonds from the UAE demonstrated fluctuations, with a notable decline in 2020 by 16.5%, followed by a strong rebound of 21.18% in 2021. The forecasted data from 2024 to 2028 suggests a steady increase, with a five-year compound annual growth rate (CAGR) of 0.45%, indicating moderate but consistent growth. The export value stood at $13.937 billion in 2023.
Key trends over the past decade show periods of decline and recovery, with significant impacts in 2020 likely due to global market disruptions. The modest CAGR of 0.63% over the last five years reflects a relatively stable market with milder fluctuations.
Future trends to watch for:
- Global economic conditions affecting luxury good markets.
- Technological advancements in diamond mining and processing.
- Shifts in consumer preferences towards synthetic diamonds.
- Regulatory changes impacting the diamond trade globally.
