2024-05-04 10:43:24
In the first 5 months of this year, 2 billion 689 million 637.2 thousand dollars were exported from Armenia, increasing by 93.3 percent compared to the same period of 2022. Such growth is due to both re-exports and the maintenance and growth of the main exported products. EAEU exports increased, EU exports decreased, although exports to individual EU countries even increased several times.
“Amberd” research center expert Mary Hovsepyan said this in a conversation with “Armenpress”.
“For the past 5 months, of course, exports have recorded a progressive pace, but on the other hand, taken in absolute numbers, we still have a problem with the trade balance, it is mostly negative, because in absolute terms, imports exceed exports. Of particular importance is the fact that although re-exports also have a share in the increase in exports, the main export destinations have continued to be maintained in addition to the existing ones. In other words, among other positive effects, the fact that new export opportunities were created, new connections, new markets or improved positions in existing markets were also important in this process, which, of course, can also have long-term benefits. Connections are the most valuable circumstance that businessmen can further develop,” said Hovsepyan.
The expert noticed that this trend is observed not only in Armenia, but also in the countries of the region. For example, in Turkey, trade with Russia continues to grow, even in the conditions of a decrease in the rate of exports observed in recent months. From the beginning of the year to June, exports from Turkey to Russia increased by 88.6 percent. “If, for example, 2.6 billion worth of goods were exported in the same time period, now that number has reached 4.9 billion dollars. Despite the fact that they announced that they have banned the re-export of goods under sanctions to Russia, statistical indicators indicate the opposite,” said the expert.
He also emphasized that any crisis, economic upheaval brings with it not only problems, but also new opportunities, changes in supply chains, rearrangements, businessmen start thinking about launching new ways in addition to traditional ways.
According to the data published by the Statistical Committee, almost half of the total exports from Armenia are exported to Russia. In January-May, goods worth 1 billion 318 million 154.9 thousand dollars were exported from Armenia to Russia, increasing by 3.3 times compared to the same period of the previous year. The United Arab Emirates ranks second in terms of export volumes. In January-May, the export from Armenia to the UAE increased 6 times compared to the same period last year, amounting to 445 million 20.8 thousand dollars. China ranks second in terms of volume. In the first 5 months of the year, goods worth 166 million 318.8 thousand dollars were exported from Armenia to China, increasing by 16.7 percent compared to January-May 2022.