Around 90 Percent Of Armenian Exports Secured By 25 Product Items

AROUND 90 PERCENT OF ARMENIAN EXPORTS SECURED BY 25 PRODUCT ITEMS

/ARKA/
OCTOBER 10, 2012
YEREVAN

YEREVAN, October 10. / ARKA /. Some 88 percent of Armenian exports in
2011 were secured by 25 product items, Gagik Makaryan, the chairman of
the Armenian National Union of Employers, told a news conference today.

“Although these numbers refer to the past year, the dynamics has been
almost unchanged for several years. Armenian exports are topped by
copper, alcohol, ferroalloys and electricity,” he said.

Makaryan argued that this fact is a clear indication that Armenia’s
exports are still poorly diversified He recalled Soviet period data
when 44 percent of exports were secured by 25 products items.

However, Makaryan said some progress has been observed over the
last few years in diversifying exports, in particular, the exports
of fresh fruits and vegetables, canned goods and wines have seen a
tangible rise.

Makaryan said also that today the mining industry accounts for 67%
of exports secured by 25 product items, and the agriculture accounts
for about 13%. He said these figures suggest that the government needs
to take quick action to promote and facilitate the diversification
of Armenian exports.

“More specifically, it must develop ways to stimulate exports,
disseminate information to potential exporters on foreign markets,
help ensure compliance with European standards and so on,” he said.

Makaryan added that a similar situation exists in the field of import,
where 55% of all imports are accounted for by 25 different products.

According to the National Statistical Service (ArmStat), exports in
January-August this year totaled $921.4 million (368.1 billion drams),
an increase of 11.4% compared to the same period of 2011, and imports –
$ 2686.8 million (1072.5 billion drams), an increase of 3.6 %.($ 1 –
AMD 406.33).

From: Emil Lazarian | Ararat NewsPress