ARMENIAN DIAMOND PRODUCTION, EXPORTS DOWN 50% IN 2007

Russia & CIS Business and Financial Newswire
January 21, 2008 Monday 10:42 AM MSK

Armenia reduced production of cut diamonds by 51.1% to 43.215 billion
dram in 2007 from 88.359 billion dram in the previous year, primarily
due to the crisis on the global diamond market, an official at the
Trade and Economic Development Ministry told Interfax.

He said sales of cut diamonds tumbled 51.8% to 42.178 billion dram,
with exports down 51.5% to 41.475 billion dram.