ARMENIA SEES DROP IN EXPORT OF POLISHED DIAMONDS
10.05.12, 08:46 / World
Armenia’s exports of cut and polished diamonds in the first three
months of the 2012 calendar year fell to only 29,000 carats, a 55%
decrease from the same three month period a year previous, per the
Armenian Customs Service. Despite the reduction in volume of diamonds
exported, the dollar value of exports actually rose from $17.5 million
for the first quarter in 2011 to $18.7 million for the first quarter
in 2012, according to Rough & Polished.
Between January and March 2012, Armenia imported only 70,000 carats
in rough diamonds, worth $23.5 million. The previous year, it had
imported a full 106,000 carats, valued at $27.3 million, by comparison.
The Armenian Economy Ministry attributed the drop in both the country’s
rough diamond imports and polished diamond exports, by weight, to a
commensurate drop in world demand. The ministry noted that the increase
in the value of stones the country exported was due to its recent
focus on larger-sized diamonds, which fetch a higher price per carat.
From: Emil Lazarian | Ararat NewsPress
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