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Russia's 2010 Rough Exports Nearly Triple

Value of Diamond Exports +126% to $2.8B

Mar 21, 2011 3:18 PM   By Jeff Miller
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RAPAPORT... Russia exported approximately 40.4 million carats of rough diamonds in 2010 compared with 14.71 million carats one year ago, according to what the country's Finance Ministry told Interfax news today. The value of rough diamonds was placed at $2.78 billion in 2010, representing an increase of 126 percent from 2009. Rough imports totaled 79,829 carats or $61 million during the year, which was a drop of 51 percent. 

Rough exports by fiscal quarter included 12.5 million carats during the first three months of 2010, followed by 11.6 million carats in the second quarter and 6.5 million carats in the third quarter. Exports during the fourth quarter totaled 9.8 million carats. Belgium, Israel and India, in that order, remained the top export destinations for rough diamonds for a second consecutive year.

Separately, Russia's Federal State Statistics Service reported that rough diamond output during the first two months of 2011 was up 22 percent, while gold production was up 6 percent, and silver production fell 0.5 percent.

On Friday, ALROSA reported full year production of 34 million carats in 2010 and rough sales of almost $3.5 billion.  (Read full story.)

Tags: diamonds, exports, Jeff Miller, Russia
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