30-35 tons of jewellery to be produced in Russia in 2002

According to preliminary estimations, about 30-35 tons of jewellery will be produced in Russia in the current year, said chairman of the Jewellers' Guild Association of Russia Alexander Ivanyuk at a Tuesday press conference.

The industry is now witnessing a significant production growth, he said. Thus, in 2001 the country produced 26 tons of jewellery.

At the association's preliminary estimations, the jewellery sales volume in 2002 will grow by 30 per cent. The domestic Russian market will first of all see an increase in sales of expensive exclusive jewellery, Ivanyuk believes.

Moscow representative of the transnational corporation De Beers Raymond Clark, who also took part in the press conference, pointed out that the situation on the world jewellery market was stable. After the tragic events in the USA in September last year there were certain fears that the sales volume might fall. Yet the results of Christmas sales refuted the fears, Clark said.

The domestic Russian market has expanded substantially, he pointed out. Russians now prefer to buy Russian jewellery, though a few years ago they chose foreign products more often.

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