Pearl trade in Dubai rose from AED95 million (US$25.9 million) to AED99.6 million (US$27.1 million) last year, driven by a 30-percent increase in imports, according to figures released by the Dubai World Statistics Department.

Data showed that trade of natural pearls in Dubai grew more than ten-fold in value terms in recent years – a rise that was largely fuelled by imports from Australia and India, in addition to re-exports to new markets including Bahrain, Hong Kong and Switzerland.

The cultured pearl trade in Dubai also received a boost last year, driven by imports from Australia, China and Hong Kong, along with re-exports to a variety of diverse markets such as Hong Kong, Australia, Japan, Lebanon and Switzerland.

"Pearls are integral to the history of the region, and the Dubai Multi Commodities Centre Authority (DMCCA) is working toward revitalising the traditional Arabian pearl trade that once thrived through the ports of the UAE,” said Ahmed bin Sulayem, executive chairman of DMCCA.

"As we work toward this objective, it is encouraging to see significant volumes of pearls traded through Dubai,” Mr Bin Sulayem added.

The latest figures highlighting the growth of the pearl trade were significant, he said, noting that Dubai’s pearl trade had quadrupled between 2007 and 2008 in terms of value.

"Maintaining this growth in today’s economic climate, when trade is at an all-time low, is a testimony to the robustness of the pearl industry and the efforts the Dubai Pearl Exchange and DMCCA have made to support and increase the trade through various initiatives,” Mr Bin Sulayem said.