Russia exported 20.1 million carats of rough diamonds worth US$2.7 billion in the first nine months of 2012, according to a Finance Ministry report based on data from Kimberley Process certificates.

That compares with Russian exports of 26.53 million carats of rough with a value of US$3 billion in the January-September period of 2011.

In the third quarter of this year, exports of rough goods were 4.61 million carats worth US$688 million, compared with 8.41 million carats worth US$1.14 billion in the year-earlier period.

The biggest export market for Russian rough diamond exports in the January-September period, in both volume and financial terms, remains Belgium which purchased 12 million carats for US$1.73 billion.

India was in second place, importing 5.05 million carats worth US$502 million, followed by the United Arab Emirates with 1.86 million carats worth US$82 million.

Meanwhile, Russia imported 111,400 carats of rough goods with a value of US$84.7 million in the first three-quarters of this year. In dollar terms, the largest exporter was Belgium, with 45,100 carats costing US$37.7 million. In carat terms, Britain exported 48,480 carats of goods that were lower-end items worth just US$336,000.