20.Oct .2022 13:30

Armenian exports in September grew 150 percent

Armenian exports in September grew 150 percent
views 299

Armenia's exports in September 2022 increased by over 150% (from 2021 September), Economy Minister Vahan Kerobyan told ARKA news agency.

"Over the past eight months Armenian exports grew by about 50% year-on-year. In September exports increased by 150%," he said.

Kerobyan said that at the moment there are still structural problems related primarily to logistics.

"We are working in several directions - somewhere successfully, somewhere not so successfully - but our efforts continue in order to improve the logistical connectivity of Armenia with the world," he stressed.

The second big problem, according to the minister, is the exchange rate of Armenian currency that has become 15% stronger over several months.

Kerobyan noted that the Ministry is working to improve the productivity of export-oriented companies to help them become more competitive and successful in pricing.

According to the statistical data, Armenian exports in the first eight months of 2022 soared by 52.9% to over $2.9bln when compared to January-August 2021. Armenian imports over the same period grew by 58.3% to $4.9bln.

Exports from Armenia to the CIS countries increased by 99.3% to over $1.13bn. Russia, Belarus and Turkmenistan are the first three largest importers of Armenian products.

Armenian exports to the EU in January-August this year increased by 24.5% over the same period in 2021 to nearly $544.76 million, ARKA reports.