ARMENIAN CUT DIAMOND OUTPUT PLUMMETS 60% IN Q1
Interfax News Agency
Russia & CIS Business and Financial Newswire
April 13, 2006 Thursday 1:55 PM MSK
Armenia reduced cut diamond production 60.4% year-on-year in the
first quarter of 2006 to 17.471 billion dram ($38.8 million), Gagik
Mkrtchian, the Armenian Trade and Economic Development Ministry’s
official in charge of gemstones and jewelry, told Interfax.
Mkrtchian said sales fell 66.7% to 18.895 billion dram ($41.9 million)
and that exports were down 63% to 17.795 billion dram ($39.5 million).
Mkrtchian said disruptions at Shogakn, Armenia’s biggest diamond
cutting plant, were to blame for the drop. Shogakn, which produces 40%
of Armenia’s cut diamonds, will resolve what he described as internal
organizational problems soon.
Armenia produced 113.583 billion dram ($248.5 million) in cut diamond
sin 2005.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
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