Over $400 Million in Diamonds Exported in 2022

The export volumes of processed diamonds from Armenia have been increasing year by year. In 2022, more than $400 million worth of diamonds were exported. Leading diamond companies from around the world have initiated projects to establish processing facilities in Armenia, which are now nearing completion.

Exports from Armenia increased by 77.7 percent last year. This growth has been driven by the export of many different product categories. Re-exports have constituted a significant part of this increase. Certain processing operations are performed locally for re-export purposes, as noted by the Minister of Economy Vahan Kerobyan in an interview with Armenpress.

“In certain categories, our consistent work is starting to yield very good results. For example, I should mention the diamond industry. In 2020, we had an export of processed diamonds worth approximately $75 million, in 2021 around $175 million, and in 2022 more than $400 million. This year, we plan to achieve even higher figures, as last year several major diamond companies among the world's leaders began projects to set up processing plants in Armenia, which are now nearing conclusion. We believe that this year, for example, the work we have done in the diamond industry will yield significant results,” Kerobyan stated.