ARMENIA INCREASES DIAMOND EXPORTS 6.7 TIMES
Armen Hareyan

HULIQ.com
July 28 2010
SC

During the first six month period of 2010 Armenia has increased its
diamond supply by 6.7 times compared to the same period last year.

The diamond production and exports in Armenia has grown from 43
thousand carats in the first half of 2009 to 288 thousand carts in
the January to June period of 2010. The report is released by the
country's Customs Service Committee of State Revenues.

During the first six months of 2010 the country had exported diamonds
worth of $ 50,412,000 dollars. This is the customs value. In the
same period of 2009 Armenia had exported diamonds worth of 22,277,000
dollars. The increase in export value is 2.3 times.

The import of rough diamonds picture the following image. During the
first half of 2010 Armenia imported 390 thousand carats valued at
$58,234,000. During the same time in 2009 the country imported 73
thousand carats, which were at a time valued at 22,004,000 dollars.

The main export destinations of the Armenian diamonds are Russia,
the USA and the European markets. The recent increase in diamond
exports are connected with the revival and stability of global markets.

The global recession of the past few years had decreased the diamond
prices world's markets. Many diamond minds shut down their operations
in 2009 worldwide to to the falling prices.

In the first half of 2010 the prices have recovered. Although they are
still low, they have gained ground reaching the levels of 2008. The
United States alone accounts for half of global diamond consumption.

The retail sales have recovered in USA as well.




From: A. Papazian