Wednesday, September 7 2016 20:00

ArmInfo. 1465.6 kg of gold (including galvanic sputtering) was exported from Armenia in the first half of 2016 versus 1405.8 kg previous year.  According to the report of the Customs Service of Armenia in fact, on a weight basis the export of gold grew 4.3%, versus downward dynamics in H1 2015 to 10.6% decline versus 31.8% growth in 2014.

In H1 2016 customs cost of exported gold increased 8% y-o-y and totaled 53 million dollars versus 42% growth last year. Armenia exports higher-quality and more expensive golden items and this determines growth of their customs cost, expert from Armenian Economy Ministry told ArmInfo, when commenting on the growth of customs cost of the exported gold.

At the same time in the first half of 2016 weight of imported gold significantly declined by 27% y-o-y to 119.4 kg due to which customs cost also dropped by 25.3% to $4.7 mln.  To note for comparison, that in H1 2015 the weight of imported gold declined even more significantly by 90.5% y-o-y related to which the customs cost also dropped by 91.1%.

Armenia exports gold mainly to Canada, while imports gold primarily from Switzerland and the UAE.