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Armenia and UAE to strengthen trade, tourism, and tech ties
... interlocutors also discussed the latest developments in the Middle East. The head of Armenia's Foreign Ministry congratulated the UAE presidential adviser on being awarded the Armenian order of “Friendship”. According to official statistics, Armenia's foreign trade turnover with the UAE for the first 10 months of this year reached $4.9 billion, reflecting a 5.6-fold increase.
12/17/2024Armenia's trade turnover with EEU countries in January-October exceeded $11bn. - Ministry of Economy
... great demand, in particular, in Russia. The deputy minister pointed out that the EEU accounts for about 50 per cent of Armenian exports. ‘By joining the EEU, Armenia has entered a market with more than 185 million consumers. This means more opportunities ... ... negotiations with Mongolia are at the stage of completion. According to the Armenian National Statistical Service, Armenia's foreign trade turnover in January-October 2024 compared to the same period of 2023 increased by 67.6% and exceeded $26.2 billion....
12/16/2024Armenia's foreign trade for 10 months totalled $26.2bn, growth continues to slow down
... 2024 compared to the same period in 2023 grew by 67.6% to more than $26.2 billion, the National Statistical Committee reported. Foreign trade turnover with Russia totalled $10.8bn, up 91.4% compared to the first ten months of 2023). Trade turnover with EU ... ....7% growth, with USA -$356.7m, 40.1% decrease, with Georgia -$273.8m, 27% growth, with Iraq -$189.4m, 26.2% growth. Armenian exports rose 95.1% to $11.5bn, with exports to Russia totalling over $2.6bn, down 13.6%. The volume of exports to the EU countries ...
12/06/2024Armenia's foreign trade turnover in January-October soars by 67.6% to over $26.2bn.
... soared by 67.6% year-on-year to over $26.2 billion, the National Statistical Committee reports. In October this year compared to October last year, the foreign trade was up 12.9%, and compared to September of 2024 it was up 9.7%. In AMD equivalent, the foreign trade turnover in January-October 2024 totaled over 10.3 trillion. Exports from Armenia compared to the same period in 2023 grew by 95.1% to over $11.5 billion. In October, exports grew by 23.1% from October 2023 and by 7.5% from September 2024. In AMD terms, exports totaled over 4.5 trillion. Imports for the reporting ...
11/25/2024Russian investments in Armenia total around $4 billion – Kopyrkin
... time, the ambassador noted that these same factors played a key role in Russia's emergence as one of the leading investors in Armenia's economy. Russia is Armenia's leading foreign trade partner. According to the National Statistical Committee, the foreign trade turnover between the Republic of Armenia and the Russian Federation for the first nine months of 2024 exceeded $9.7 billion, marking a 99.2% increase compared to January-September 2023. Exports during this period totaled $2.3 billion, a decrease of 15.5%, while imports reached $7.6 billion, representing a 3.3-fold increase. -0-
11/25/2024Armenia and Russia plan to reach record $14-16bn trade turnover - Russian Ambassador
.... Kopyrkin also noted that work is underway to launch joint economic projects in Armenia, which will make a tangible contribution to the development of Armenian industry, create new jobs and increase tax revenues. Russia is still Armenia’s largest foreign trade partner. According to the National Statistical Committee, the trade turnover between the countries in the first 9 months of 2024 exceeded $9.7bn, almost doubling compared to January-September 2023. Armenian exports during the reporting period totalled $2.3bn, decreasing by 15.5%, while imports reached $7.6bn with a 3.3-fold growth. -0-
11/25/2024Chinese and Armenian businesspersons to make a series of mutual visits in 2025 to expand co-operation
... representative office in Armenia, Manukyan said the issue is under discussion. ‘There is a relevant clause in the recently signed memorandum,’ Manukyan said. According to the Armenian National Statistical Committee, China is Armenia’s third largest foreign trade partner. Their trade turnover in January-September 2024 was more than $2 billion, registering a 34.7% growth compared to the same period in 2023. Exports from Armenia totalled almost $907.8 million (2.8 times growth), while imports more than $776 million (7.6% growth). -0-
11/25/2024Armenia and Sweden discuss economic cooperation opportunities
Armenian Foreign Minister Ararat Mirzoyan discussed the possibilities of bilateral economic cooperation at a meeting with Benjamin Dousa, Minister for International Development Cooperation and Foreign Trade, in Stockholm yesterday. YEREVAN, November 12. /ARKA/. Armenian Foreign Minister Ararat Mirzoyan discussed the possibilities of bilateral economic cooperation at a meeting with Benjamin Dousa, Minister for International Development Cooperation ...
11/12/2024Armenia's foreign trade turnover slows to $23.7 billion in 9 months; major trade partners are Russia, UAE, and China
... in 2023, reaching over $23.7 billion, according to the Armenian National Statistical Committee's website. Armenia's largest foreign trade partners were Russia (with a trade turnover of over $9.7 billion, a 99.2% increase compared to the first nine months ... ... billion, a 34.7% increase), Iran ($520.6 million, a 2.7% increase), and the United States ($323.2 million, a 41% decrease). Exports According to statistical data, Armenia's exports for the first nine months of 2024 increased 2.1-fold compared to January-September ...
11/06/2024Armenia and Iran aim at bringing trade turnover to $3bn.
... Armenia and Iran, having recorded a sharp increase, exceeded $700 million in 2023. According to him, there is an intention to raise this figure to $1bn in the near future and later to $3bn. According to Armenia’s National Statistical Committee, the foreign trade turnover between Armenia and Iran in the first 9 months of the current year exceeded $520 million, increasing by 2.2% compared to January-September last year. Exports reached $81.2 million with a 7.7% growth, while imports totalled about $450 million with a 2.4% increase. -0-
11/06/2024In January-September, Armenia's exports grew by 2.1 times, imports - by 2.5%, but there are nuances - Minister
... 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-
10/28/2024EDB highlights key sectors driving economic growth in Armenia
... services (+5.9% y/y), and industry (+12.6% y/y). In September, the services sector saw a notable acceleration in activity (+11.6% y/y, up from 9.5% in August), as did industry (+4.6% y/y, up from 2.1% in August). The report also highlights that growth in foreign trade and precious metals processing continued to bolster export (up 2.1 times) and import indicators (+54.2% y/y) at robust levels. Figures and forecasts for the Armenian economy Armenia's economic growth in the state budget for 2024 is envisaged ...
10/28/2024Armenia finalises its part of work on draft free trade agreement between UAE and EEU – minister
... member states to finalise this work. Papoyan added that he is in constant contact with his Emirati counterpart, UAE Minister of Foreign Trade Tani bin Ahmed Al Zayoudi, to specify the details. ‘Our ministries are working on finalising the internal processes ... ... Committee, the trade turnover between the two countries in January-August 2024 exceeded $4.35bn, increasing 6.8 times year-on-year. Exports for 8 months reached $4.31bn with a 7.3-fold increase, while imports totalled $304.9m, down 23%.-0-
10/25/2024Armenia's foreign trade turnover in January-September soars by 73.5% to $23.7 billion
....5% more than in January-September 2023, the National Statistical Committee reports. In September 2024 alone, compared to September last year, the country’s foreign trade surged by 22.4%, but compared to August 2024 , it was down 13%. The volume of foreign trade turnover in Armenian dram amounted to over 9.3 trillion. Exports in January-September 2024 more than doubled compared to the same period in 2023, amounting to about $10.6 billion. In September, exports increased by 38.9% year-on-year and decreased by 13.1% month-on-month. In dram equivalent, they amounted to ...
10/25/2024Re-exports of gold and jewelry was key drivers of Armenian export growth in August- WB
... arrivals in H1 2024 and a 25 percent decline in average spending per tourist after a strong 2023. Deterioration in the income balance, mostly due to a 28 percent decline in remittances, also contributed to lowering the current account balance. Armenia's foreign trade turnover in August 2024 stood at $2.1bn, up 33.3% compared to August 2023 and 7.4% compared to July 2023. Meanwhile, exports in August totalled $945.0 million, with an increase of 58.1% compared to August 2023 and 15.6% compared to July 2024. Imports in August reached $1.2 billion, up 18.7% from August 2023 and 1.7% from July 2024. -0-
10/22/2024Converse Bank and Kapitalbank sign cooperation agreement at Sibos 2024
... in Beijing,’ the bank said in a press release today. ‘This is an important step for both Converse Bank and its partners, representing a significant document aimed at expanding international cooperation in key areas: · Financing of foreign trade transactions, and support for clients in export and import matters; · Cooperation in financial markets, including joint operations in currency and money markets. With this partnership, the Bank expands its international network ...
10/22/2024Armenia's foreign trade slows down to $21.7 billion in 8 months
... over $21.7 billion, according to the website of the National Statistical Service. YEREVAN, October 7. /ARKA/. Armenia's foreign trade in January-August 2024 compared to the same period in 2023 surged by 79.6% to over $21.7 billion, according to the ... ... for the first eight months of 2024 compared to January-August 2023 increased by 2.1 times, amounting to about $9.7 billion. Exports to Russia amounted to over $1.9 billion, a decline of 19.5% y/y. Exports to the EU countries decreased by 24.2% compared ...
10/07/2024Foreign trade turnover of $700 million with Iran doesn’t suit Armenia: the goal is $1 billion - Papoyan
... /ARKA/. Armenia is not satisfied with the $700 million foreign trade turnover with Iran; the goal is to achieve a trade turnover of $1 billion with the prospect of increasing it to $3 billion stated Armenian Economy Minister Gevorg Papoyan. "The foreign trade turnover between Armenia and Iran last year amounted to approximately $700 million. During this time, exports from Armenia to Iran amounted to almost $100 million, and imports - $600 million. These figures indicate the positive dynamics of relations between our countries. Important sectors such as agriculture, industrial products and the food industry ...
09/30/2024Armenia's agricultural trade turnover with the EAEU increases by 7.3% in 8 months - Ministry of Economy
... projects are being implemented in Armenia that accelerate all these processes, but so far we see that this does not really apply to the export of "perishables" from Armenia," he added. According to operational statistics, the volume of foreign trade turnover of Armenia in January-August 2024 amounted to $22.6 billion, which is 70.9% more than the figure for January-August 2023. According to official statistics, the volume of products manufactured in the first half of 2024 in Armenia ...
09/30/2024Armenia's foreign trade turnover in January-August soars by 70.9% to $22.6 bln.
... is 70.9% more than in January-August 2023, the National Statistical Committee reports. The figure was up 33.3% in August this year compared to July last year, and 7.4% compared to July 2024. For eight months of 2024 in AMD equivalent, the volume of foreign trade turnover amounted to about AMD 9 trillion. Exports from Armenia in January-August 2024 compared to the same period of 2023 grew 2.1 times, totaling $9,694.7 million. In August, exports grew by 58.1% from August 2033 and by 15.6% from July 2024. In AMD terms, exports for the first eight months ...
09/26/2024World Bank named the key factor in exports from Armenia in July
... amounted to $1,995.6 million, increasing by 35.3% compared to July 2023, and decreasing by 1.9% compared to June 2023. Exports in July amounted to $811.6 million, and imports - $1,184.0 million. Overall, over the first 7 months of this year, Armenia's foreign trade turnover has grown by 95%, exceeding $20.4 billion. Exports for January-July amounted to $8.7 billion, and imports - $11.7 billion. -0-
09/24/2024Armenia ready to sign peace treaty with Azerbaijan and open communications in short time -Mirzoyan
... that managed to be harmonised. In fact and technically, the text is fully agreed. And this is our proposal - to sign what has already been agreed,’ Mirzoyan said on Monday at a joint press conference with Luxembourg Minister of Foreign Affairs and Foreign Trade Xavier Bettel. Mirzoyan said Armenia is currently awaiting Azerbaijan's reaction. ‘We believe that there is a real opportunity to sign a peace treaty with Azerbaijan in a short period of time, thus opening a page and an era of ...
09/09/2024Armenia's foreign trade nearly doubles in 7 months to $20.4 billion
... trade with Russia amounted to over $9 billion, an increase of 2.4 times compared to the first seven months of 2023. Armenia's foreign trade with EU countries fell by 21.4% to over $1.2 billion. The top five trade partners were Germany ($271.6 million, ... ... to about $1.7 billion, up 41.6%, that with Iran fell by 2% to $388.9 million and trade with the USA fell to $265.2 million. Exports According to statistics, exports from Armenia increased by 2.2 times compared to January-July 2023 to over $8.7 billion....
09/05/2024Armenia's foreign trade turnover soars by 95% in January-July 2024
... compared to the same period in 2023, the National Statistical Committee of Armenia reported on Monday. In July 2024, the foreign trade turnover saw a 35.3% year-on-year increase, although it decreased by 1.9% compared to June 2024. In dram terms, the foreign trade turnover amounted to 8.09 trillion drams for the first seven months of 2024. Armenia's exports surged 2.2 times during January-July 2024, reaching $8.74 billion. However, in July 2024, exports grew by 42.8% year-on-year but declined by 5.7% compared to June 2024. In dram terms, exports totaled 3.46 trillion drams. The country's imports ...
08/26/2024Armenia's foreign trade doubles in first half of 2024 to over $18.4bn.
... doubled year-on-year to over $18.4 billion, the National Statistical Committee reported. YEREVAN, 6 August. /ARKA/. Armenia's foreign trade in January-June 2024 has doubled year-on-year to over $18.4 billion, the National Statistical Committee reported.... ....7%), Iraq ($87.6 million, down 13.1%), Switzerland ($85.3 million, up 44%) and Republic of Korea ($66.7 million, down 28.8%). Exports Exports increased 2.3 times, to about $8 billion. Exports to Russia fell by 21% to $1.4 billion. Exports to the European ...
08/06/2024Armenia's foreign trade turnover soars in H1 2024
... to the same period in 2023, the country’s National Statistical Committee reported on Friday. In June 2024, the foreign trade turnover increased by 2.35 times compared to June 2023 but decreased by 6.7% compared to May 2024. In dram equivalent, the foreign trade turnover for the first six months of 2024 amounted to 7,308.2 billion drams. Export Growth Exports from Armenia in January-June 2024 grew by 2.3 times compared to the same period in 2023, totaling $7,927.6 million. In June alone, exports increased by 2.59 times year-on-year but decreased by 10.9% compared to May 2024. In dram equivalent, exports ...
07/26/2024Armenian goods exports up 57.4% in May due to re-exports of gold and jewellery - WB
... by 4 percent (yoy) in May. Over the January-May period, exports and imports grew by 248 percent and 200 percent, respectively, resulting in a 23 percent increase in the trade balance deficit. According to the National Statistical Committee, Armenia's foreign trade turnover in May 2024 stood at $2.1bn, up 32.2% compared to May 2023, and down 51.5% compared to April 2023. Exports in May were $957.6 million, up 57.4% from May 2023, and imports were $1.2 billion (down 17.2% from May 2023). -0-
07/16/2024Armenia proposes cooperation on Gyumri dry port to UAE
... Armenia proposed collaboration on a dry port project in the country’s Shirak province to the United Arab Emirates, Armenia’'s Ministry of Economy reported on Monday. Armenian Economy Minister Gevorg Papoyan met with the UAE Minister of State for Foreign Trade Thani bin Ahmed Al-Zeyoudi and the UAE Deputy Minister of Industry and Advanced Technology Omar Suwaina Al-Suwaidi on the sidelines of the INNOPROM-2024 forum in Russia’s Yekaterinburg. According to the press service of the Armenian Ministry ...
07/08/2024World Bank assesses diamonds exports and re-exports on Armenia’s foreign trade
Armenia almost tripled its exports in April thanks to a tenfold increase in the exports of precious and semiprecious stones, the World Bank revealed in its monthly economic update. YEREVAN, July 1. /ARKA/. Armenia almost tripled its exports in April thanks to a tenfold increase ...
07/01/2024Head of EDB Research Centre names condition for Armenia's involvement in Eurasian transport framework (EXCLUSIVE)
... volume of international freight traffic in 2023 along the five corridors of the Eurasian transport framework at 260 million tonnes, including 3.6 million containers. Compared to 2013, the volume of international container traffic has more than tripled. Foreign trade and transit container traffic in communication with China is growing most dynamically. Since 2013, the number of container trains from and to China via the Eurasian Economic Union and Central Asia has increased 200 times.-0-
06/28/2024EDB Board Head: Armenia is one of the key players of the Eurasian transport framework
... volume of international freight traffic in 2023 along the five corridors of the Eurasian transport framework at 260 million tonnes, including 3.6 million containers. Compared to 2013, the volume of international container traffic has more than tripled. Foreign trade and transit container traffic in communication with China is growing most dynamically. Since 2013, the number of container trains from and to China via the EAEU and Central Asia has increased 200 times. -0-
06/27/2024Armenia's foreign trade increases 2.2 times in January-May, up to $16.3bn.
... YEREVAN , 25 June. /ARKA/. Armenia's foreign trade in January-May 2024 more than doubled year-on-year to over $16 . 3 billion, the National Statistical Committee report ed . It said in May of this year compared to May of last year, th e country's foreign trade increased by 2.3 times, and compared to April of the same year by 48.5%. Exports from Armenia in January-May 2024 compared to the same period of 2023 grew 2.5 times, to over $7 b illion. In May, 12-month exports grew 2.5 times, and by 57.4% from the previous month. Imports totalled over $9 . 2 b illion, registering ...
06/25/2024Eurasian Development Bank expects Armenia’s economy to grow by 7.5% in 2024, by 4.2% in 2025
... respectively. In 2024, a slight cooling in the economic growth of the main trading partners is expected. This will curb remittances and external demand for most exported goods. However, export performance will remain strong due to ultra-high volumes of foreign trade in gold products,” the forecast says. It is noted that at the beginning of 2024, the growth rate of the Armenian economy accelerated. In January–April, the economic activity indicator increased by 13.2% y/y. The main driver was industrial ...
06/21/2024Exports of products of Armenian origin recorded 14 per cent decline in the first quarter - Finance Ministry
... parliament. The high growth, according to the deputy minister, was due to the re-export of gold jewellery, most of which went to the UAE. At the same time, imports grew 75.8 per cent in January-March 2024 compared to 2023. However, excluding the impact of re-exports, a decline of 9.2 per cent was actually recorded. According to the National Statistical Committee, Armenia's foreign trade turnover in the first quarter of 2024 compared to the same period of 2023 increased 2.1 times to $9.2 billion, with exports rising 2.7 times to $4.4 billion and imports reaching $4.7 billion, with an increase of 75.8 per cent compared to ...
06/07/2024EDB names three sectors that provided growth of economic activity in Armenia in January-April
... continues to contribute significantly to economic activity growth (according to EDB calculations about 5.1 p.p. of growth in January-April), due to the expansion of output and exports of gold jewellery,’ the review says. EDB analysts also note that exports of goods grew by 2.7 times YoY, while imports grew by 2.1% YoY in January-March, mainly due to an increase in foreign trade and gold jewelry processing. According to Armenian National Statistical Committee, in January-April, the country's industrial output totalled AMD 229.6 billion (up 26.8% YoY), domestic trade turnover reached over AMD 1.7 trillion (up 26....
06/03/2024Armenian business entities made over 648 million transactions worth 12.2 trillion drams in 2023
... 73 billion,’ Badasyan said in parliament. According to the National Statistical Committee, Armenia's trade turnover with the EEU exceeded $7.6 billion in 2023, up 42.7% year-on-year. The EEU countries accounted for 36.8 per cent of Armenia's total foreign trade turnover. -0-
05/31/2024Armenia’s foreign trade turnover grows to $13.7 bn in Q1 2024
... same period of 2023, the country’s National Statistics Committee reported on Monday. YEREVAN, 27 May. /ARKA/. Armenia’s foreign trade turnover grew up to $13.7 billion in the first quarter of 2024, showing a 140% increase compared to the same period ... ... Statistics Committee reported on Monday. April’s figure grew by 0.6% compared to March 2024 and by 170% compared to April 2023. Exports from Armenia grew by 180% in Q1 2024, compared to the same period of 2023, standing at $5.99 billion, or 2,396.5 billion ...
05/27/2024World Bank: UAE largest importer of Armenian goods
... fourfold in March (yoy), driven by imports of precious and semi-precious stones. The UAE is among the top three nations in terms of foreign trade turnover with Armenia. According to the Armenian National Statistics Committee, in Q1 2024, the trade turnover between ... ... the UAE amounted to $2.1 billion, increasing by 6.9 times compared to January-March last year. At the same time, the volume of exports exceeded $2 billion with an increase of 7.1 times, and the volume of imports decreased by 12.1% to $121.2 million.
05/22/2024Armenia works on diversification of economy with an eye on Europe - Secretary of the Security Council
... Grigoryan noted. He also emphasized the work in the direction of energy diversification and discussions with the U.S. on strengthening cooperation in the sphere of civil nuclear energy. According to the Armenian National Statistical Service, Armenia's foreign trade turnover with EU countries in the first quarter of 2024 reached almost $494.3 million (a 27.9% decline compared to January-March 2023), of which more than $126.75 million wert Armenian exports. The top five largest trade partners of Armenia were Germany (almost $106.6 million turnover), Italy (over $93 million), Belgium (almost $46.5 million), the Netherlands (almost $30.8 million), and France (almost $25.9 million).-0-
05/21/2024Granting market status to Armenia's economy discussed in USA
... the status of a market economy, the Ministry of Economy said. Papoyan also met with Jason Heifmeister, Deputy Secretary for Foreign Trade and Agricultural Affairs of the U.S. Department of Agriculture to discuss possible steps for increasing the food ... ... Armenian-American trade turnover amounted to more than $108.9 million (37.4% decrease compared to the first quarter of last year). Exports from Armenia to the U.S. amounted to $14.5 million (39% growth) and imports to almost $105.4 million (49.4% decline).-0-
05/16/2024OSCE Chairman-in-Office to visit Armenia
Minister of Foreign, Trade and European Affairs of Malta Ian Borg, who is currently OSCE Chairman-in-Office, will pay a working visit to Armenia on May 13, Armenian Foreign Ministry’s spokesperson Ani Badalyan said. YEREVAN, May 13. /ARKA/. Minister of Foreign, Trade and European Affairs of Malta Ian Borg, who is currently OSCE Chairman-in-Office, will pay a working visit to Armenia on May 13, Armenian Foreign Ministry’s spokesperson Ani Badalyan said. According to her, Borg is scheduled to...
05/13/2024Armenia's foreign trade grows 2.1 times in Q1, 2024 to over$9.1 bln
... Foreign trade turnover with Russia more than doubled to about $3.8 billion compared to the first three months of 2023. Armenia's foreign trade with EU countries amounted to about $494.4 million with a 27.9% decline. The five largest trade partners were Germany ... ....9-fold growth), China ($878.8 million, 96% growth), Iran ($148.5 million, 13.7% decline), and USA ($109 million, 37.4% decline). Exports Armenian exports grew 2.7 times to over $4. 4 billion. The volume of exports to Russia fell to $838 8 million, a decrease ...
05/08/2024Russia imposes temporary ban on sugar exports. Armenia not affected
... Eurasian Economic Union in certain volumes. In particular, it is allowed to export 28 thousand tons to Armenia, 5 thousand tons to Belarus, 120 thousand tons to Kazakhstan, and 28.5 thousand tons to Kyrgyzstan. The decision to temporarily ban sugar exports was approved by the subcommittee on customs-tariff and non-tariff regulation, protective measures in foreign trade.-0-
05/06/2024Armenia’s export diversification decreases -WB says
... in getting to Armenia, but also when traveling between regions of the country, and that rural areas are in poor condition both in terms of the money spent on them and the services provided. According to the National Statistical Committee, Armenia’s foreign trade in the first quarter of 2024 amounted to $9.2 billion, which is 2.1 times more than in January-March 2023. Exports increased 2.7 times to $4.4 billion, while imports amounted to $4.7 billion, with a 75.8% growth compared to the first quarter of 2023. -0-
05/01/2024Industry provided a significant part of economic activity in Armenia in Q1 - EDB
... growth in Q1 according to our calculations), due to the expansion of output and exports of gold jewelry,” the review says. It noted that the sectors of trade (+26.5% y/y) and services (+5.0% y/y) also provided an increase in economic activity. “Exports of goods increased by 2.7 times YoY, while imports increased by 75.8% YoY in January-March, mainly due to the increase in foreign trade and gold processing,” EDB analysts point out. According to the National Statistical Committee of Armenia, the industrial output totaled over 723.6 billion drams in the first quarter of this year, up 30.4% YoY from January-March 2023. Meanwhile,...
04/29/2024Armenia's foreign trade turnover doubled in the first quarter, up to $9.2 bln.
... times more than in January-March 2023, the National Statistical Committee reports. YEREVAN, April 25. /ARKA/. Armenia's foreign trade amounted to about $9.2 billion in the first quarter of 2024, which is 2.1 times more than in January-March 2023,... ... Statistical Committee reports. In March this year, compared to March last year, this indicator increased by 2.1 times. Armenian exports increased 2.7 times, amounting to over $4.4 billion. In March, exports increased 3 times yoy. Imports during the reporting ...
04/25/2024Armenian authorities to develop new proposals to stimulate economic growth
... implementation of capital expenditures, the government press service reported. The participants of the meeting, in particular, discussed the fulfillment of capital expenditures by state bodies, indicators of tax and customs revenues, rates and expected trends of foreign trade turnover. It was noted that the level of economic activity in January-February amounted to 16.3 percent. In this context, the participants exchanged views on further opportunities and steps of economic development. According to the National ...
04/23/2024Armenian export growth continued to soar due to robust exports of gold and jewelry- World Bank
... contributed to export growth. Of total exports in January-February, 46.6 percent were destined to the UAE, and these were mostly exports of precious and semi-precious stones. The share of export to Russia more than halved to 20 percent in January-February ... ... net export of this commodity group in February was USD 400 million. According to the National Statistical Committee, Armenia's foreign trade turnover in January-February 2024 increased 2 times compared to January-February 2023, exceeding $5.3 billion.. ...
04/19/2024Some 76% of Armenian exports in 2023 went to Russia, UAE and Hong Kong- economist
... ended up in Armenia. This capital outflow was also expressed in the form of gold and diamonds," he said. According to the National Statistical Committee, Armenia's foreign trade turnover in 2023 increased by 46%, exceeding $20 billion. The largest foreign trade partners were Russia ($7.3 billion, up 43.3% yoy), UAE ($2.3 billion, up 3.9 times) and China ($2.1 billion, up 21.3%). Exports in 2023 amounted to $8.4 billion with growth of 55.3%, the main directions were Russia ($3.4 billion, growth by 38.8%), UAE ($2.2 billion, growth by 4.2 times) and China ($425.3 million, growth by 15.1%). Imports last year rose 40.2% to $12.3 ...
04/17/2024Armenia's foreign trade balance positive in February at $102.3 mln - EDB
... out that Armenia's foreign trade deficit in goods decreased to $196.7 million in January-February 2024 from $590 million in the same period last year. The review notes that in January-February exports increased 2.6 times amid increased production and foreign trade in gold products. "The main role in exports growth was played by precious stones and metals (growth of 8.9 times YoY in January - February), which together with supplies of machinery and equipment provided almost all the positive dynamics of exports," the review says. At the same time,...
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