Export growth rates to exceed 2.5 times those of import in Armenia this year- Economy Minister

YEREVAN, December 27. /ARKA/. Growth rates of export will  exceed 2.5 times those of import in Armenia this year, Economy Minister Tigran Davtyan told reporters on Wednesday summarizing the year.

This dynamics will continue next year as well due to the government’s export-oriented programs, he said.

Industrial policy strategy oriented to export was adopted by the government in December 2011. Industrial production export is planned to be increased almost three times over the next 10 years. The strategy also implies re-launching several dozen industrial enterprises each year. 

 “The councils in charge of five different sectors have been summoned: precision engineering, winemaking and brandy production, pharmaceutics, light industry, diamond processing and jewelry business. It was not by chance, that these spheres demonstrated progress this year,” Davtyan noted.

According to the National Statistical Service of Armenia, the foreign trade turnover in January-November 2012 rose 3.5% to $5.13 billion from the same period a year earlier. Export within this period hit nearly $1.3 billion, which was 6.7% higher from a year earlier. Import totaled $3.8 billion, which was 2.5% higher from a year earlier.

Armenia mainly exported goods to Russia, Germany, Bulgaria, Belgium and Iran. These countries accounted for 56% of Armenian export. -0-