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Time in Yerevan: 11:07,   29 March 2024

Production volume rises in some industrial sectors of Armenia

Production volume rises in some industrial sectors of Armenia

YEREVAN, DECEMBER 23, ARMENPRESS. Trade turnover of Armenia during January-October, 2015 formed 3 billion 901 million USD which is a decline of 20.4% against the previous year. Main foreign trade partners of Armenia are Russia, China, Germany, Iran and Italy. Head of Department of Trade and Markets Regulation of the Ministry of Economy of the Republic of Armenia Gagik Kocharyan mentioned that observing the structure of foreign trade we can notice interesting phenomenon.

“Many goods have increased in terms of volume, but decreased in terms of price. Decrease in terms of price is explained by decline of mining products, metals, oil and other commodity prices in international markets. It is mentioned in the World Trade Organization report that goods have devaluated by 12% while preserving their volumes. Armenia could not have bypassed all these. For instance, the volume of goods imported in 2015 has increased, but the prices have declines. Particularly, the prices for oil, crude oil, medicines, chicken meat, butter, etc”, Gagik Kocharyan said.

According to him, decline of international prices of exported goods had a great impact on Armenian mine-industry. Armenian entrepreneurs suffered quite a lot of losses due to currency depreciation in Russia. In spite of that, production volumes have increased. Particularly, the production of cognac, cheese, and light industry. In Kocharyan’s words, this speaks about that industry goes on.

To the question to what extent Armenia manages to fill the gap in the Russian market caused by ban on Turkish goods, Gagik Kocharyan mentioned that Armenia already benefits from that opportunity. Stating that agricultural and milk products are already exported to Russia.








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