ARMENIAN DIAMOND PRODUCTION DOWN BY A THIRD
Tacy, Israel
April 22 2007
Armenia reduces its production of cut diamonds by 31.6 percent in the
first quarter of 2007, to US$ 34.7 million from US$ 50.7 m illion dram
in the same period in 2006, says a spokesman for Armenia’s Trade and
Economic Development Ministry. The fall is attributed to a slump in
global prices and demand.
Sales of cut diamonds in the period fell 37.5 percent to US$33 million,
while exports were down 34.5 percent to US$32.8 million.