ARMENIAN POLISHED DIAMOND PRODUCTION DOWN BY OVER A FIFTH

Tacy, Israel
Oct 22 2006

Armenia’s polished diamond production, at US$171.3 million, fell by 22
percent in first nine months of 2006 compared to the first nine months
of 2005, says a spokesman for Armenia’s Trade and Economic Development
Ministry. Sales of polished diamonds fell 20.1 percent to US$173.1
million, while exports were down 21.3 percent to US$168.4 million.

The drops were attributed to a fall in world prices for cut and
polished diamonds combined with a weaker dollar in Armenia.