Alrosa Notes Rise in Global Jewelry Sales

RAPAPORT... Global sales of diamond jewelry grew 4% to $85.9 billion in 2018 despite a weaker second half, according to market research Russian miner Alrosareleased. The growth was slower than the 5% increase Alrosa reported for the previous year. North American sales grew 4% in 2018, with the region accounting for more than half ofoverall revenue, the company said Monday. In the first half of the year, high demand from localconsumers and tourists in key markets drove a 6% increase in global sales.However, demand waned in the second half as the US dollar gained strength against other currencies, with totalglobal sales growing only 2%, Alrosa noted. Sales in Asia, which includes Southeast Asia and India,rose 5% during the year. Image: Diamond jewelry in a shop display. (Shutterstock)