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Armenia Increases Diamond Exports 6.7 Times

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  • Armenia Increases Diamond Exports 6.7 Times

    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
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