Russia exported $4 bn worth diamonds: India major buyer

Moscow, March 23 (IANS/RIA Novosti) Russia last year exported over 32 million carats of uncut rough diamonds worth $3.81 billion, the finance ministry said. India, Belgium and Israel were the major buyers.

The exports registered a 37 percent increase in value year-on-year.

The three major importers of Russian diamonds last year were Belgium with 18.8 million carats ($2.5 billion), India with 5.9 million carats (over $590 million) and Israel with 3.5 million carats ($384 million).

Diamond production in Russia came to 35.14 million carats in 2011, the ministry said.

Russia accounts for approximately 21 percent of global diamond production, most of which is concentrated in some of the most inaccessible and inhospitable regions in the world, just below the Arctic Circle.

--IANS/RIA Novosti

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