Armenia’s exports have set a record this year, Armenia’s Minister of Economic Development and Investments Suren Karayan told reporters on Wednesday.
“We’ll record a year-on-year increase of exports reaching 21%. And we forecast a 25% increase during the last four-month period,” the minister said.
On the other hand, Mr Karayan does not consider the figures satisfactory.
“To ensure steady economic growth we believe that we must, in the mid-term, invest all our potential to ensure the share of exports in Armenia’s GDP to be at least 40-50 percent,” the minister said.
He points out controversial high-level centralization of export in terms of both markets and products, and the ministry will try to diversify exports.
“The increase was due to Armenia products. We have recorded a 25% increase in exports over the last three months – several times as much as last year,” Mr Karayan said.
Armenia’s exports to the European Union (EU) have increased as well and work is in progress to promote exports to the EU, which is one of the major steps.

The Phonéthon 2016 will take place this year from 17 to 20 November for Paris, Lyon and Toulouse, and from 16 to 19 November for Marseille.
The aim of the Made in Armenia-2016 exhibition is to support domestic producers and afford opportunities for them to establish contacts with foreign businessmen, Karen Mkrticheian, Executive Director of the Development Foundation of Armenia (DFA), told reporters on Wednesday as he spoke of the exhibition to take place at the Meridian expo center on September 19-22.
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