In January-September, Armenia's exports grew by 2.1 times, imports - by 2.5%, but there are nuances - Minister

YEREVAN, 28 October. /ARKA/. Speaking at a parliamentary discussion on the 2025 draft budget Finance Minister Vahe Hovhannisyan recalled that a 2.1-fold increase in exports was recorded in January-September 2024.

‘However, the high growth was largely driven by exports of gold items. Thus, the exports of goods of Armenian origin excluding gold increased by about 1.4 per cent,’ Hovhannisyan said, He said at the same time that imports rose by 2.5 per cent over the same period, but excluding re-exports, imports were down about 5.2 per cent .

‘In the second half of last year and the first half of this year, we recorded a significant increase in gold re-exports and now we are seeing a gradual decline in this factor. We believe that next year the impact of the re-export factor will continue to decline,’ the minister said.

According to the latest statistical data, Armenia’s foreign trade turnover in January-September 2024 was over $23.7 billion (73.5% growth over the same period of 2023). Exports grew 2.1 times to about $10.6 billion and imports reached over $13.1 billion, recording a 54.2% growth.-0-