ArmInfo. Keeping the exchange rate of Armenia's national currency against USD on the level not exceeding 500 AMD will bring into balance indicators of export and import in the region, Head of the Union of Local Commodity Producers of Armenia Vazgen Safaryan mentioned at today's press-conference, noting that in order to ensure this the government needs to actively support exporters via privileges.
Safaryan thinks that this year first and foremost the local manufacturers should be supported and development of mobilizing economy should be assisted. "Domestic cooperatives do not develop in Armenia at all. The Government has allocated 2.6 bln AMD subsidy for import of nitrogen fertilizer from Georgia in amount of 32 thousand tons. Why couldn't these funds be invested in the reactivation of Vanadzor Chemical Industry, which would produce potash and nitrogen fertilizers ", Safaryan stated, explaining that such outflow of funds from the country is nothing more than unreasonable waste of resources.
According to the National Statistics Service of Armenia, in Jan-Dec 2015 the foreign trade turnover of Armenia experienced 20.6% year-over- year decline (versus 1% growth in 2014 and 5.6% in 2013) and totaled 2.3 trln AMD (4.7 bln USD). Exports dropped by 3.7% over year (versus 2.7% growth in 2014 and 7.2% in 2013) to 710.5 bln AMD (1.5 bln USD) and import dropped by 26.5% over year (versus 0.4% growth in 2014 and 5.1% growth in 2013) to 1.6 bln AMD. Foreign trade turnover between Armenia and Georgia in Jan-Dec 2015 totaled 183 mln USD with 17% year over year decline. Particularly, export from Armenia to Georgia grew by 37.6% amid 46.9% drop of import to Armenia from Georgia.
To note, average exchange rate of AMD in Jan-Dec 2015 was fixed at 477.92 AMD/$1.