Jewelry exports from Armenia have decreased 50%, a businessman told NEWS.am. The major problem in the sector is selling jewelry, he said. “The local market is too narrow, the population is insolvent. People do not even think of buying jewelry. The situation is a little better abroad, but competition is stronger there,” the businessman said.

According to him, the higher gold price is a serious blow to the sector, and the authorities; statements about their efforts to develop it have not yet been followed by any practical measures. “Every day the authorities make ‘attractive’ statements, which remain mere statements. Nothing has changed in reality, and we do not believe anything will change,” the businessman said. According to him, the Government’s best help is not to put obstacles to businesses. “The authorities have repeatedly stated the necessity for developing the jewelry sector, but we have been overcoming the difficulties by ourselves for so long that we will overcome the crisis too,” the businessman said. This year many small businessmen have gone bankrupt, and big businesses sustained serious losses.

Early this week, RA Minister of Economy Nerses Yeritsyan stated that the Government must take serious steps to develop the jewelry industry in Armenia for Armenian jewelry to occupy a niche in the international market.