Diamond exports rise at Sierra Leone

Sierra Leone exported $35 million worth of diamonds in the first five months of 2010, indicating a 25 percent increase over the corresponding months in 2009, reports say. At the onset of 2010, the country’s government had increased tax on diamond exports worth over $500,000 from 6.5 percent to 15 percent, intending to raise more revenues.

Sierra Leone had exported $79 million worth of diamonds in 2009, showing a dip of 20 percent, while in 2008 it exported over $99 million worth of rough diamonds.

Sierra Leone is hopeful that exports will pick up by 2011, despite the current downturn effects of the economy in the diamond market.