Minister: Armenian economy undergoing structural changes

|

USD

381.55

EUR

444.54

RUB

4.9785

GEL

141.33

Economy

15.08.2022, 11:21

The Armenian economy is undergoing structural transformations, Economy Minister Vahan Kerobyan said.

Minister: Armenian economy undergoing structural changes

YEREVAN, August 15. /ARKA/. The Armenian economy is undergoing structural transformations, Economy Minister Vahan Kerobyan said.

"Our economy saw a vigorous growth in the first six months of this year, contributed largely by the processing industry, trade, services and imports,’ he said in an interview with the Public Television of Armenia.

According to him, this proves that the economic growth is driven not only by geopolitical reasons (particularly, by arrivals of tens of thousands of Russian citizens to Armenia after Russia launched ‘the special military operation in Ukraine), but also by structural changes.

As for imports, Kerobyan said that the share of imported mining products has dropped from 60% to 30% and "this is very good".

According to the National Statistical Committee, the country's economic activity grew by 11.8% in January-June 2022 compared to the same period in 2021․ The growth in June 2020 compared to June 2021 was 18.5%. --0--

Copper and molybdenum concentrate production in Armenia drop over 10-month period

In Armenia, the production of copper concentrate fell by 9.1%, totaling 235,036.6 tons from January to October 2025, in comparison to the same period in 2024, as reported by the Statistical Committee.

08.12.2025 15:32

Armenia Appreciates US Support in Improving Border Customs Control

Armenia appreciates the support from its American partners in enhancing its border customs control infrastructure and building the skills of customs officers, stated Eduard Hakobyan, the Chairman of the State Revenue Committee, during a meeting with Kern Chasney, Regional Advisor for the U.S. Department of State's Export Control and Border Security (EXBS) Program, and Zachary Barter, Director of the Office of International Narcotics and Law Enforcement Cooperation (INL) at the U.S. Embassy in Armenia.

08.12.2025 14:54

Eurasian Development Bank expects price growth in Armenia in 2025 to remain close to Central Bank's target

The Eurasian Development Bank (EDB) forecasts that consumer price growth in Armenia will remain close to the Central Bank 's target of 3±1% this year.

08.12.2025 12:34

Industrial output in Armenia up 3% over the first 10 months, reaching 2.4 trillion drams

Industrial output in Armenia in January-October 2025 amounted to 2,408,950.1 million drams (at current prices), a decrease of 3% compared to January-October 2024, according to the Statistical Committee.

08.12.2025 12:02

Yerevan's budget revenues for the first 11 months amounted to 80.6 billion drams, with a 99.7% compliance rate

From January to November 2025, the Yerevan budget actually received 80.6 billion drams of the planned 80.9 billion drams of revenue, reported David Hakobyan, Acting Head of the Revenue Accounting and Collection Department of the Yerevan Municipality.

08.12.2025 10:38

Armenia's foreign trade turnover fell by 37.1% over the first 10 months, amounting to $16.5 billion: Russia is ahead of China and the UAE in the top three

Armenia's foreign and mutual trade turnover in January-October 2025 decreased by 37.1% compared to the same period in 2024, amounting to $16,542,183.9 thousand, the Statistical Committee of the Republic reports.

08.12.2025 10:33

In Armenia, the birth rate decreased by 4.8% and the death rate by 0.03% over the past 10 months

In Armenia, the birth rate decreased by 4.8% and the death rate by 0.03% from January to October 2025, compared to the same period in 2024.

05.12.2025 14:58

Gasoline prices in Armenia fell by 1.4% in November, while diesel fuel prices fell by 1.2%

Gasoline prices in Armenia fell by 1.4% in November 2025, compared to November 2024, while diesel fuel prices fell by 1.2%.

05.12.2025 11:45