Russians spend about two billion dollars on New Year jewelry presents. The news was revealed by the chairman of jewelry maker Choron Diamond, Rajesh Gandhi.

Jewelry sales bring about six billion dollars of annual profit in Russia. About 30 percent of the income is received during New Year holidays. Precious metals and precious stones jewelry makes about 50 percent of the entire sales volume at this point. The interest in high-quality and expensive jewelry has been rising in Russia during the recent several years. Over 20 percent of Russians plan to choose jewelry as their New Year presents.

As far as Muscovites are concerned, they are ready to spend up to 2,000 dollars on New Year presents, depending on income and likings. However, jewelry is not the most popular gift in Russia. Most often, Russians prefer to give perfumes and cosmetic products, toys, CDs, DVDs and cell phones. The list of most popular gifts ends with expensive gifts such as computers, trips to a foreign country and cars.

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