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March 17, 2016

75% of Yakutia diamonds are exported

In 2015, 92 million dollars’ worth of diamonds were produced in Yakutia. The amount of jewelry produced came to 1.6 billion rubles, reported the Minister of Industry, Andrey Panov, on the official administrative web portal of the Republic of Sakha (Yakutia)

Of the diamonds produced in Yakutia in 2015, 75% were exported, 12% were sold on the domestic market and 13% were sold within the republic itself. Last year's totals reveal that the production of silver goods in Yakutia increased.

One of the key problems in the diamond cutting and jewelry industry of Yakutia, Andrey Panov calls a shortage of working capital and the inaccessibility of loan capital for full capacity utilization, as well as the shortage of highly skilled workers.

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