RBC reports that in 1H06 polished diamonds production in Armenia reduced by 20.4% in comparison with the same period 2005 and amounted to $104.7 mln. This information was given by the head of precious metals and jewellery department of the Ministry of Trade and Economic Development Gagik Mkrtchan.

According to the report, in 1H06 diamonds sales decreased by 18.1% - down to $105 mln, export reduced by 20.2% - down to $101.5 mln.

Such a reduction is associated with the situation in the world diamond market and effected SMB sector for the most part. In the period reported Armenia did not imported Russia diamonds due to the high prices, all the raw diamonds were imported from Israel and Belgium.

In 2005 Armenia produced diamonds $248.5 mln worth, in 2004 - $220.3 mln worth.