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The amount of processed diamond exports from Armenia is growing every year, Minister of Economy Vahan Kerobyan told Armenpress in an interview.

He said that in 2022 Armenia exported over $400-million worth processed diamonds. Furthermore, leading diamond-cutting enterprises of the world are now finalizing plans to open processing plants in Armenia, Kerobyan added.

Total exports grew 77.7% in 2022. According to Kerobyan, the exports of various types of goods have contributed to this growth. Re-exportation comprised a significant part, and some re-processing is being implemented locally for re-exportation.

“Our consistent work regarding certain categories is beginning to give very good results. For example, I have to mention the diamond industry. In 2020 we had a total of $75 million of exports of processed diamonds, in 2021—around $175 million, in 2022—over $400 million. And we plan higher figures this year because last year, several leading major diamond-cutting enterprises of the world began projects on opening processing plants in Armenia, and the projects are now being finalized,” Kerobyan said.

These plants might be opened in Armenia in the first quarter of this year, the economy minister said.

In 2022, jewelry exports from Armenia surpassed $100 million for the first time.

The economy minister credits the government’s efforts for these results, but says that this is just the beginning of a long road.

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