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Armenia's Diamond Exports Badly Hurt In 2009, Shows Signs Of Improve

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  • Armenia's Diamond Exports Badly Hurt In 2009, Shows Signs Of Improve

    ARMENIA'S DIAMOND EXPORTS BADLY HURT IN 2009, SHOWS SIGNS OF IMPROVEMENT
    Edahn Golan

    IDEX
    http://www.idexonline.com/portal_FullN ews.asp?id=33730
    March 1 2010

    Armenia exported 70,600 carats of cut diamonds in 2009, a 70 percent
    drop compared to 2008, Interfax reported. Armenia's imports of rough
    diamonds fell 30 percent to 102,000 carats.

    The country's diamond industry was hurt by the decline in global demand
    for diamond jewelry, an outcome of the economic crisis, according to
    Gagik Kocharian, a senior trade official at the Armenian Economics
    Ministry.

    Armenia sources its rough diamonds from Belgium, Russia and Israel,
    according to the report.

    Signaling a turnaround in the global economic situation, Armenia
    imported 20,000 carats of rough diamonds in January. By comparison, the
    country imported some 17,000 carats a month in the January-September
    period of 2009.
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