Russian Ruble Devaluation Blamed For Fall In Armenian Exports Of Alc

RUSSIAN RUBLE DEVALUATION BLAMED FOR FALL IN ARMENIAN EXPORTS OF ALCOHOLIC BEVERAGES

ECONOMY | 27.02.15 | 16:13

Alina Nikoghosyan
ArmeniaNow reporter

Armenia registered a 27-percent decline of exports of alcoholic
beverages at the end of 2014 and beginning of 2015, Avag Harutyunyan,
head of the Armenian Winemakers Union, said, adding that official
data is not published yet.

Harutyunyan told reporters Friday that in the past Armenia experienced
such crises also in 1998, 2008 and 2009.

“The decline of brandy export in 2014 is explained by tendencies
that started in November of 2014 connected with the Russian ruble’s
devaluation and that got more intense gradually, and in January of
2015 we could see no light,” he said, adding that if this situation
continues till June they will not be able to purchase the whole
harvest from villagers.

Armenia became a member of the Eurasian Economic Union (EEU) since
January 2, 2015, and the Russian ruble has been in fluctuations since
earlier in 2014.

According to the data published by the National Statistical Service
(NSS), in January this year, compared to January 2014, a 4.3-percent
inflation was registered, electricity production fell by almost 20
percent, a 7.4-percent decrease was registered in sales, a 6.3-percent
decline in the volume of industrial production.

According to Harutyunyan, in 2014, compared to 2013, export volumes
of wine grew nearly by 49 percent, and brandy exports declined by
5 percent.

“2014 was the best year for vodka, it is the second year Armenians,
unfortunately, have restored their lost tradition. In 2014 we imported
an unprecedented number – never in our history had there been such
an amount – 9 million bottles and nearly 250,000 liters of vodka,
mainly from Russia, and we imported a huge amount, 700,000 liters of
alcohol,” he said.

http://armenianow.com/economy/61027/armenia_wine_alcohol_exports

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