ARMENIA’S DIAMOND CUTTING INDUSTRY RECOVERING, MINISTER SAYS

Israel Diamond Portal

Nov 17 2011

Armenian Economy Minister Tigran Davtyan announced on Wednesday
that the country’s diamond cutting industry was emerging from the
economic crisis, which had caused “serious losses” for Armenian
diamond manufacturers.

By the end of the year, Davtyan said, he expected diamond exports to
reach pre-crisis levels. The National Statistical Service of Armenia
reports that from January-September 2011, Armenia’s diamond cutters
produced 51,500 carats, an 8.3% increase over the corresponding period
of 2010.

Davtyan spoke while visiting two diamond cutting companies in the
Kotayk province, both of which cut rough diamonds sourced from Alrosa.