Ministry: Russia’s diamond production falls 31.1% in 2020

MOSCOW, Apr 2 (PRIME) -- Russia’s output of diamonds contracted by 31.1% on the year to 31.187 million carats in 2020, as seen by PRIME in materials of the Finance Ministry on Friday.

In monetary terms, the diamond production fell by 45.2% to U.S. $2.255 billion with the average price of $72.3 per carat in 2020, down from $90.93 per carat in 2019.

Exports of diamonds decreased by 1.6% on the year to 38.586 million carats in 2020 worth $2.947 billion, down 15.9%. The largest importers of Russian diamonds were Belgium with imports of 19.74 million carats worth $1.308 billion, the United Arab Emirates with imports of 14.065 million carats worth $794.523 million, and India with imports of 4.088 million carats worth $637.979 million.

Imports of diamonds by Russia plunged by 70.4% to 310,458 carats worth $109.127 million, down 63.4%.

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