Armenian Cut & Polished Diamond Exports Fell 61.5% In Jan-Sept

ARMENIAN CUT AND POLISHED DIAMOND EXPORTS FELL 61.5% IN JAN-SEPT

TACY
Nov 2 2012
Israel

Armenian exports of cut and polished diamonds slumped 61.5 percent
on the year in the first three-quarters of 2012 to 104,300 carats,
according to its Customs Service.

In value terms, exports plummeted to US$57.8 million in the
January-September period from US$85.9 million in the same period
of 2011.

The country’s Economics Ministry tells Interfax that the exports
dropped as a result of falling global demand for diamonds.

Armenia imports around 50 percent of its rough diamonds from Russian
mining giant Alrosa, and exports cut and polished diamonds mostly to
Europe, the United States, and Russia.