Last year, Russia produced 35.140mn carats of raw diamonds, up 1% from 34.857mn carats in 2010, the Finance Ministry said on its web-site.

The country’s largest diamond producer, Alrosa, earlier said the group’s output reached 34.438mn carats. Independent producers, primarily Uralalmaz, which is part of Lev Leviev’s Ruiz Group, and Nizhnelenskoye controlled by the government of Yakutia, account for 700 000 carats.

In money terms, diamond production rose 12.3%, to $2.675bn from $2.382bn in 2010. This estimate is based on the Finance Ministry’s price list, which is known to contain below-market prices.

Alrosa’s revenue was $4.424bn in 2011.