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ARMENIA COULD DOUBLE CUT DIAMOND EXPORTS IN 2015
Interfax, Russia
September 3, 2013 Tuesday 4:24 PM MSK
YEREVAN. Sept 3
Armenia could double cut diamond exports from $79 million in 2012 to
$150 million in 2015, Armen Yeganian, head of the Economics Ministry's
Industrial Policy Department, told Interfax.
The forecast is part of the strategy to develop the country's
diamond-cutting industry, which the prime minister's industrial
development council has approved.
This is the best-case scenario. A more moderate one sees global demand
for cut diamonds recovering more slowly and exports rising to $111
million, while exports would fall to $72 million in the worst-case
scenario, if there is a new wave of global crisis.
It is thought annual growth in cut diamond exports will be 14.7%
in the best scenario, 7.2% in the moderate one and 0.3% in the worst.
Yeganian said the forecasts were in constant prices.
He said exports would grow was orders increase, diamond cutters create
their own brands and measures are taken to improve the legal framework
and conditions for buying rough diamonds from Russia.
Cut diamond production and exports fell after the 2009 global crisis,
but started to grow this year. Armenia exports 99% of its cut diamonds.
The exports fell 61.3% last year to 135,900 carats or, in value,
30.5% to $79 million.
Armenia does not mine diamonds of its own but buys rough diamonds,
mainly from Russia and from Belgium, where the country exports most
of its cut diamonds.
Pr ak
Interfax, Russia
September 3, 2013 Tuesday 4:24 PM MSK
YEREVAN. Sept 3
Armenia could double cut diamond exports from $79 million in 2012 to
$150 million in 2015, Armen Yeganian, head of the Economics Ministry's
Industrial Policy Department, told Interfax.
The forecast is part of the strategy to develop the country's
diamond-cutting industry, which the prime minister's industrial
development council has approved.
This is the best-case scenario. A more moderate one sees global demand
for cut diamonds recovering more slowly and exports rising to $111
million, while exports would fall to $72 million in the worst-case
scenario, if there is a new wave of global crisis.
It is thought annual growth in cut diamond exports will be 14.7%
in the best scenario, 7.2% in the moderate one and 0.3% in the worst.
Yeganian said the forecasts were in constant prices.
He said exports would grow was orders increase, diamond cutters create
their own brands and measures are taken to improve the legal framework
and conditions for buying rough diamonds from Russia.
Cut diamond production and exports fell after the 2009 global crisis,
but started to grow this year. Armenia exports 99% of its cut diamonds.
The exports fell 61.3% last year to 135,900 carats or, in value,
30.5% to $79 million.
Armenia does not mine diamonds of its own but buys rough diamonds,
mainly from Russia and from Belgium, where the country exports most
of its cut diamonds.
Pr ak