ArmInfo. Economic potential of Armenia needs to focus on exports, and the share of exports to GDP, in 4-5 years is planned to increase to 42-43% from the current 33%. Deputy Minister of Economic Development and Investments of Armenia Tigran Khachatryan expressed his opinion at the July 4 conference of the Fitch Rating agency in Yerevan. The deputy minister noted that according to the government's plans, the main driver of economic growth in the next 3-4 years will be the export of goods and services.
According to him, to achieve this goal, it is necessary to reform the field of activity for export-oriented entities. Along with this, it is necessary to take advantage of the great potential for the promotion of Armenian products to the markets of the EEU, where the opportunities used by Armenia are still low. "In other words, in the coming years we should strive to ensure that Armenian goods and services are presented in the markets of the EEU in more impressive volumes, especially as the preferential trade regime established in the Eurasian space facilitates this," Khachatryan stressed.
Concerning the plans for foreign investment, he did not rule out that by the end of 2017 their share in GDP could reach 5%, and for the next years this indicator should become part of Armenia's macroeconomic reality.
T. Khachatryan also noted that in the sphere of services tourism remains the priority. "By the results of the first half of this year, the annual growth of tourists visiting Armenia can be ensured at the level of 30%, and in the next 4-5 years we hope to reach the bar of 3-5 million people.
In the structure of the industrial sector, a great potential comes from light industry, namely, such sub- sectors as textile and leather production.
According to the National Statistical Service of the Republic of Armenia, economic activity in January- May 2017 increased by 6.4% per annum on the background of export growth of 20.9% and imports - by 24.4%. By May 2016, economic activity increased by 8.9%, with exports growing by 38.7% and imports - by 61.7%. A year earlier, in January-May 2016. The net flow of general foreign investments into the Armenian economy declined by 31.1% in 2016, while the decline in FDI was only 9.7%. In the first quarter of 2017, by the same period of 2016, the net flow of FDI to the Armenian economy grew by 32%.
According to State Committee on Tourism, the tourist sector of Armenia in 2016 finished with 5.7% growth: 2.867 foreign citizens visited the Republic, from which 1.259 on tourism purpose.