Thursday, September 12 2019 13:31
Alina Hovhannisyan

Rough diamonds import growth accelerates in Armenia, while polished  diamond exports decline

Rough diamonds import growth accelerates in Armenia, while polished  diamond exports decline

ArmInfo.In the first half of 2019, the volume of diamond exports from Armenia decreased by 17.7% per annum, against the 8.2% decline a year earlier. According  to the RA Customs Service, during the reporting period, Armenia  exported 101.2 thousand carats of diamonds, the customs value of  which decreased by 33.5% per annum to $ 28.5 million.

The dominant export volume of diamonds from Armenia falls on the  United Arab Emirates (59.2%), Russia (15.8%), Belgium (8.5%), the USA  (8.3%), Israel (4.5%), Canada ( 2.8%), and to a lesser extent -  India, Thailand and Georgia.

At the same time, an upward dynamics was recorded in import of  products of the diamond-cutting industry:  in quantitative terms,  supply volumes increased in the I half of 2019 by 58.6% per annum  (against the 7.5% growth over the same period in 2018). During the  reporting period, 416.2 thousand carats of rough diamonds were  imported into the republic, worth $ 76.6 million (with a y-o-y  decline of 3.4%). Diamond raw materials are imported to Armenia from  Hong Kong (45.7%), India (20.4%), United Arab Emirates (18.5%),  Switzerland (5%), Belgium (3%), Canada (2.8%), Israel (1.4%),  Thailand (0.3%), South Africa (0.2%), as well as the United States,  Germany, Russia.

To note for comparison, that in the first half of 2018, Armenia  exported 122.9 thousand carats of diamonds with a total value of $  42.9 million, and imported 262.5 thousand carats of diamonds with a  total value of $ 79.3 million.

According to the Statistical Committee of the Republic of Armenia, in  the first half of 2019, jewelry production in Armenia decreased by  31.8% - to 17.5 billion AMD ($ 36.1 million).

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