Armenian Finance Ministry reveals reason behind sharp decline in exports in December

YEREVAN, February 3. /ARKA/. Armenian Finance Ministry revealed today the reason behind a sharp decline in exports in 2024 December by 48.6%.
Armenia recorded a sharp decline in exports and imports in November and December 2024 after posting high growth rates in the previous 10 consecutive months. In December, exports declined by 48.6% (up from 33.7% drop in November), which was contributed largely by the decline in exports of precious metals to the UAE. Imports declined by 26.5% (up from 18.5% in the previous month), according to the ministry’s Macroeconomic Outlook. December 2024.
According to Armstat, Armenia’s foreign trade turnover in 2024 amounted to over $30.1 billion, which is 41.5% more than in 2023.
Meanwhile, in December of last year compared to December of the previous year, this indicator was down 37.3%, and compared to November of 2024 -4.4%.
Exports from Armenia in 2024 compared to 2023 increased by 53.1% to about $13.1 billion, while imports totaled over $17 billion, with an increase of 33.8%. -0-