Without re-export of precious metals, Armenia's exports would have hardly grown in September - WB
YEREVAN, 21 November. /ARKA/. Armenian exports increased 39 percent (yoy) in September, driven by re-exports of precious and semi-precious stones and metals, according to World Bank's Armenia Monthly Economic Update – November 2024.
It says that without these, exports would have seen almost no increase; growth in this export category had been in decline since May, after strong growth in the first four months of the year. Imports grew just 12 percent in September, as reexports eased.
Cumulatively, in the first nine months of 2024, exports doubled and imports grew 54 percent, with the trade deficit narrowing by 24 percent (yoy), the WB says.
According to official statistics, Armenian exports in the first 9 months of 2024 compared to January-September 2023 increased 2.1 times, amounting to $10.6bn.
In September 2024, this indicator was $857.1 million, having increased by 38.9% compared to September 2023 and having decreased by 13.1% compared to August 2024.
The imports were $13.1 billion, registering an increase of 54.2% compared to January-September 2023.
In September 2024, this indicator was $1.1bn, increasing by 11.9% compared to September 2023 and decreasing by 12.9% compared to August 2024. -0-
