Armenia Boosts Diamond Exports 60% In Jan-Sept, Gold Exports Up 6.8%

ARMENIA BOOSTS DIAMOND EXPORTS 60% IN JAN-SEPT, GOLD EXPORTS UP 6.8%

Interfax, Russia
Nov 12 2013

YEREVAN. Nov 12

Armenia exported 1,857.2 kg of gold (including galvanic plating) in
the first nine months of 2013, up 6.8% from 1,738.7 kg in the same
period of last year, the country’s Customs Service reported.

The customs value of gold exports dropped 4.2% to $54.4 million from
$56.8 million in the first nine months of 2012. The Economics Ministry
attributed this to the drop in prices for gold this year.

Armenia exports Dore alloy with gold content of up to 92%. The country
does not produce pure (bank) gold.

Armenia imported 2,494 kg of gold (including galvanic plating) worth
$115.8 million in the nine months, up from 989 kg worth $52.4 million
in the same period last year. Armenia imports gold primarily in the
form of gold products and raw material for their manufacture.

Armenia increased exports of cut diamonds by 58% to 164,800 carats
in the nine months, from 104,300 carats a year earlier, the Customs
Service reported. The customs value of diamond exports rose to $64.2
million from $57.8 million a year earlier.

Imports of rough diamonds rose to 310,000 carats worth about $86
million, from 200,000 carats worth about $71 million in the first
nine months of 2012.

The Economics Ministry told Interfax that imports of rough diamonds
are nearly double exports of cut diamonds because some rough diamonds
are imported to make jewelry. The ministry attributes the growth of
cut diamond production to orders.

Armenia, which does not mine its own diamonds, imports rough for
polishing and exports the cut stones primarily to the same countries
from where the rough diamonds come – Russia and Belgium.

The ministry said earlier that the strategy for the development of
the polishing industry calls for Armenia to nearly double exports of
cut diamonds to $150 million in 2015 from $79 million in 2012.

Vp ak

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