Armenian diamond companies import 107,000 carats of rough diamonds in ten months of 2014

YEREVAN, November 21. / ARKA /. Armenian diamond cutting companies imported a total of 107,000 carats of rough diamonds in the first ten months of 2014, according to Armen Yeganyan, head of an economy ministry department overseeing industrial policies. 

Speaking to a news conference today he compared this figure with 178,000 carats of rough diamonds brought in over the 12 months of 2013. He added that the cost of raw diamonds brought in over the 10 months of this year was however 30 percent higher from the cost of diamonds imported in the first ten months of 2013.

He said the main suppliers of rough diamonds to Armenia are Russia, Namibia, Israel, Guinea, Canada, Belgium and Sweden. In the first ten months of 2014 Armenia imported 38,000 carats of uncut diamonds form Russia while in 2013 a total of 96,000 carats were imported.

He said now Russian rough diamonds are not re-exported as in the past due to lack of demand being instead cut in Armenia.  He also recalled that the Russian supplier of rough diamonds, ALROSA,  stated its readiness to provide Armenia with 380,000 carats of rough diamonds, but it all depends on market demand.

He said the diamond cutting industry is expected to grow due to the development of the local market and simplified supply of rough diamonds from Russia, to recover to the previous years' position. He added that Armenia is able now to import rough diamonds free from customs duties, which are 6.5 percent.

According to the National Statistical Service of Armenia, jewelry and goldsmith sector in January-September 2014 were 43.5 percent down from the year earlier at about 7.7 billion drams.  Some 801.1 kg of jewelry were produced versus 818.3 kg in January-July 2013 (a decline of 2.1%). Production of cut diamonds in the same time span decreased by 36 percent to 42,846 carats.

The export of precious and semiprecious stones, precious metals and products in January-September amounted to about $168 million (up 22.8%), while imports of the same types of goods amounted to $231.5 million (increase of 10.7% ). ($ 1- 417.13 drams). -0—