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.