Time in Yerevan: 11:07:36,   20 May

Armenia’s jewelry branch growth to be maintained till yearend – advisor to minister

YEREVAN, MAY 19, ARMENPRESS. Armenia’s jewelry branch is developing in the past 1,5 year, especially in the previous 6 months double growth was recorded, Gagik Mkrtchyan, advisor to the minister of economic development and investments told a press conference on May 19.

“The permanent key of development of Armenia’s jewelry and diamond production has been Russia, both in terms of supply of raw materials and respectable markets. Our production is especially perceivable and accessible in this area. We attach great significance to the further development of this kind of Armenian business with Russia. We’ve also set a task of deepening close ties with Russian structures, which represent the interests of the business community. Armenia is a small country and is unable to ‘stomach’ products of such great quantities. 95-97% is being exported. Our task is to follow this volumes of exports as to in what directions they are moving. The EEU is a quite good market for Armenia and today we have significant growth in exports”, he said.

According to official statistics, jewelry worth over 12 billion drams was produced in Armenia during January-March of 2017. The production has almost tripled compared to the previous year. 

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