Armenian diamond exports jump 55%, gold exports slump 4.3% in H1
YEREVAN. July 31 (Interfax) - Armenia reduced gold exports by 4.3% year-on-year to 1,072.5 kg (including galvanic plating) in the first half of 2013, the country's Customs Service reported.
The customs value of gold exports dropped 3.1% to $34 million from $35.1 million in the first half of 2012.
Armenia imported 1,324.5 kg of gold (including galvanic plating) worth $63.9 million in the first half, up from 607.9 kg worth $32.3 million in the same period last year.
Armenia increased exports of cut diamonds by 55% to 132,800 carats in the first half, the Customs Service reported. The customs value of diamond exports rose to $43.5 million from $40.4 million a year earlier.
Imports of rough diamonds rose to 240,700 carats worth about $60 million, from 158,100 carats worth $55 million in the first half of 2012.
The Economics Ministry told Interfax that imports of rough diamonds are nearly double exports of cut diamonds because some rough diamonds are imports to make jewelry. The ministry attributes the growth of cut diamond production to foreign orders.
Armenia exports Dore alloy with gold content of up to 92%. The country does not produce pure (bank) gold.
Armenia, which does not mine its own diamonds, imports rough for polishing and exports the cut stones primarily to the same countries from where the rough diamonds come - Russia and Belgium.