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Armenia expects record 110% commodity turnover to GDP ratio– minister

22.12.2023, 12:25
Armenia's total commodity turnover in 2023 will make a record 110% of GDP, Economy Minister Vahan Kerobyan said during the presentation of the ministry's 2023 performance report.
Armenia expects record 110% commodity turnover to GDP ratio– minister

YEREVAN, December 22. /ARKA/. Armenia's total commodity turnover in 2023 will make a record 110% of GDP, Economy Minister Vahan Kerobyan said during the presentation of the ministry's 2023 performance report.

He also said that the export-to-GDP ratio will be 54.5%, which is still below the government's target of 60%.

Armenia's foreign trade in January-October 2023 compared to the same period in 2022 grew by 41.2% to $15.4 billion, with exports increasing by 38.5% to $5.8 billion and imports totaling $9.6 billion with an increase of 42.9%. -0-

Kerobyan also said economic growth in 2023 is expected to be 8.3-8.5%. Investments increased by 17.5% year-on-year, he said.

The IMF said Thursday that Armenia is the leader in the South Caucasus region in terms of GDP per capita at $8,280. -0-