ARMENIA SLASHES CUT DIAMOND EXPORTS 70% IN 2009

Interfax
Feb 24 2010
Russia

Armenia slashed cut diamond exports 70% to 70,600 carats in 2009 Gagik
Kocharian, a senior trade official at the Armenian Economics Ministry,
told Interfax.

Kocharian said cut diamond exports, as well as output, which was
similar in volume, plummeted due to reduced demand for jewelry,
however Armenia also received small, lower-cost rough diamonds for
processing due to the crisis in 2009.

Armenia exports all its cut diamonds.

Rough diamond imports fell 30% in 2009 to 102,000 carats, Kocharian
said. Most rough is imported from Belgium, Russia and Israel.

Kocharian said a positive tendency was emerging so far this year:
Armenia imported 20,000 carats of rough in January 2010 alone, whereas
imports did not exceed 17,000 carats on a monthly basis in January-
September last year.

"This makes us hopeful that the market is coming to life and that
production volumes will increase this year," he said.

From: Emil Lazarian | Ararat NewsPress