Friday, July 7 2017 20:30
Alina Hovhannisyan

Safaryan: The export share in Armenia`s GDP can be brought up to 45% in 5 years if the annual increase in volumes is $ 700-800 mln.

Safaryan: The export share in Armenia`s GDP can be brought up to 45% in 5 years if the annual increase in volumes is $ 700-800 mln.

ArmInfo. The export share in Armenia's GDP can be brought up to 40-45% within 5 years, if annually to increase the export volume by $ 700-800 million, said Vazgen Safaryan, Chairman of the Union of Industrialists and Manufacturers of Armenia (UIMA), on July 7, at a press conference commenting on the presidential decree in the parliament on the government program from May.

He noted that by the end of 2016 the volume of Armenia's foreign trade exceeded $ 5 billion, of which $ 1.7 billion fell on export supplies, and $ 3.2 billion - for imports. At the same time, according to him, 40% of the Armenian export falls on the mining industry and 40% - on the food industry and beverages, the most part of which goes to the Russian market.

Speaking about the prospects for increasing export supplies in 2017, the expert noted: "Yes, last year we managed to supply over 130 thousand tons of agricultural products to Russia, increasing exports in this segment by almost 53%. This is certainly a positive trend. However, here the main role was played by the seasonal factor, thanks to which the year was successful. And if we take into account the not so stable development of the Russian economy and the fluctuation of copper prices in international markets, we see a serious problem in ensuring the indicators that the President previously stated," he explained.

As the most promising opportunities for Armenia, Safaryan noted the cooperation and activation of ties with Iran in view of the desire of the Iranian partners to integrate into the EEU. In this regard, he noted that Iran, like Armenia, sets itself similar tasks in terms of ensuring economic development. "In 2016, Iran's GDP grew by 1% year on year to $ 377 billion (against $ 374 billion a year earlier), while per capita GDP was $ 4.6 thousand, while Armenia's figure is $ 3.5 thousand. We can say that the social situation of Armenia and Iran is practically the same," he said. In this regard, the expert stressed that Armenia should carry out serious work in the direction of developing economic relations with Iran, in particular, in the establishment of joint ventures in the Free Trade Zone on the border in Meghri with the aim of conducting export supplies to the Eurasian market.

According to the National Statistical Service of Armenia, Armenia's GDP increased by 0.2% per annum in 2016 to 5.068 trillion AMD ($ 10.5 billion). The foreign trade turnover in 2016 increased by 7.4% to $ 5.1 billion, with exports growing by 20% to $ 1.8 billion, and imports - by 1.6% to $ 3.3 billion. Moreover, Russia retains leadership among partners in the volume of foreign trade with providing mutual trade in $ 1.4 billion with an annual growth of 15.1%. With Iran, the volume of mutual trade amounted to $ 238.8 million, with an annual decline of 14.7%, with a decline in exports and imports - by 8.4% and 17.3% respectively.

POST A COMMENT
Input digits     


News
Central Bank of Armenia forecasts decrease in unemployment rate to 12.6% for 2023Central Bank of Armenia forecasts decrease in unemployment rate to 12.6% for 2023
U.S. is interested in developing cooperation with Armenia in technological fieldU.S. is interested in developing cooperation with Armenia in technological field
Expert: If government manages to conduct effective economic policy and keep at least 10% of immigrants in Armenia, then double-digit economic growth will not be mythExpert: If government manages to conduct effective economic policy and keep at least 10% of immigrants in Armenia, then double-digit economic growth will not be myth
Converse Bank`s bonds have been listed on Armenian Stock ExchangeConverse Bank`s bonds have been listed on Armenian Stock Exchange
Armenia`s vice-premier hosts EAPO presidentArmenia`s vice-premier hosts EAPO president
WB approves new EUR 92.3 million loan to promote Green, Resilient and  Inclusive Development in ArmeniaWB approves new EUR 92.3 million loan to promote Green, Resilient and  Inclusive Development in Armenia
Inflow of private transfers from Russia to Armenia continues to  increase significantlyInflow of private transfers from Russia to Armenia continues to  increase significantly
AmCham introducing new standards into Armenia`s business culture -  Vahan KerobyanAmCham introducing new standards into Armenia`s business culture -  Vahan Kerobyan
Armenia, Brazil to strengthen trade and economic tiesArmenia, Brazil to strengthen trade and economic ties
Armenia to get EUR 92.3mln WB loan for budget deficit coverage Armenia to get EUR 92.3mln WB loan for budget deficit coverage 
Amazon Web Service to assist Armenia in old film digitizationAmazon Web Service to assist Armenia in old film digitization
Ameriabank honored as the Best Investment Bank in Armenia for 2023 by Global Finance Ameriabank honored as the Best Investment Bank in Armenia for 2023 by Global Finance 
Expert: Expenditures of Dry Port project exceed $100 millionExpert: Expenditures of Dry Port project exceed $100 million
Armenia Securities Exchange launches AMXTrader new trading system for  financial market participantsArmenia Securities Exchange launches AMXTrader new trading system for  financial market participants
Armenia`s economic indicators impressive in 2022 - IFC Armenia`s economic indicators impressive in 2022 - IFC 
Armenia welcomes Belarusian construction companies Armenia welcomes Belarusian construction companies 
FlyOne Armenia launches Yerevan - Larnaca - Yerevan direct flights FlyOne Armenia launches Yerevan - Larnaca - Yerevan direct flights 
Vahan Kerobyan: AMD 40 billion were returned to borrowers under 2022  state subsidy program for mortgage loansVahan Kerobyan: AMD 40 billion were returned to borrowers under 2022  state subsidy program for mortgage loans
Armenian winemakers participating in ProWein international trade fair  in DusseldorfArmenian winemakers participating in ProWein international trade fair  in Dusseldorf
Armenia`s vice-premier receives IMF repsArmenia`s vice-premier receives IMF reps
Armenia`s premier hosts IMF delegationArmenia`s premier hosts IMF delegation
Armenia`s Ministry of Economy draft law to introduce English law  jurisdiction - minister Armenia`s Ministry of Economy draft law to introduce English law  jurisdiction - minister 
U.S., Canadian and European companies interested in projects in  Armenia`s Syunik - Paruyr HovhannisyanU.S., Canadian and European companies interested in projects in  Armenia`s Syunik - Paruyr Hovhannisyan
Enterprise Armenia supporting 40 projects worth $2.4-3.2bln - premier Enterprise Armenia supporting 40 projects worth $2.4-3.2bln - premier 
In 2022 vs. 2021, number of RA citizens on migration registration in  RF decreased by 15% - ACSESIn 2022 vs. 2021, number of RA citizens on migration registration in  RF decreased by 15% - ACSES
Deputy PM, AmCham representatives discuss Russian-Ukrainian conflict  impact on Armenian economyDeputy PM, AmCham representatives discuss Russian-Ukrainian conflict  impact on Armenian economy
Armenia, Georgia discuss possibilities of expanding cooperation in  tourism sectorArmenia, Georgia discuss possibilities of expanding cooperation in  tourism sector
Rostelecom changes its mind about selling its Armenian subsidiary GNC  AlfaRostelecom changes its mind about selling its Armenian subsidiary GNC  Alfa
Yerevan hosts 19th International Specialized Caucasus Exhibition:  Building and Reconstruction EXPO 2023 Yerevan hosts 19th International Specialized Caucasus Exhibition:  Building and Reconstruction EXPO 2023 
Armenia`s Deputy Minister of Economy hosts UNCCD delegation  Armenia`s Deputy Minister of Economy hosts UNCCD delegation  
Threshold for duty-free importation of goods into EAEU for  individuals at level of EUR 1000 may return to previous level Threshold for duty-free importation of goods into EAEU for  individuals at level of EUR 1000 may return to previous level 
Saudi Flynas airline to launch flight to Yerevan in summerSaudi Flynas airline to launch flight to Yerevan in summer
Vahan Kerobyan: Turkey actively buys gold from Armenia, while  selectively buying other productsVahan Kerobyan: Turkey actively buys gold from Armenia, while  selectively buying other products
CBA Head: Surveys show that international visitors have begun making  long-term plans for Armenia and its economyCBA Head: Surveys show that international visitors have begun making  long-term plans for Armenia and its economy
Central Bank Head: FAO index has stabilized and there are no new  upward trendsCentral Bank Head: FAO index has stabilized and there are no new  upward trends
Martin Galstyan: Armenia Securities Exchange is currently in process  of forming new board and strategyMartin Galstyan: Armenia Securities Exchange is currently in process  of forming new board and strategy
CBA improves its 2023 GDP growth forecast for Armenia to 5.8%,  indicating construction and services as main driversCBA improves its 2023 GDP growth forecast for Armenia to 5.8%,  indicating construction and services as main drivers
Western sanctions against Russia pose a threat to Armenia - PMWestern sanctions against Russia pose a threat to Armenia - PM
New Armenia-ADB cooperation strategy under developmentNew Armenia-ADB cooperation strategy under development
AraratBank joins the United Nations Women`s Empowerment Principles InitiativeAraratBank joins the United Nations Women`s Empowerment Principles Initiative
Armenia`s CB leaves refinancing rate unchanged, 10.75%Armenia`s CB leaves refinancing rate unchanged, 10.75%
With organizational support of Ameriabank and SPRING PR, first  With organizational support of Ameriabank and SPRING PR, first  "Doing Digital-Exploring Digital Future" forum to be held in Yerevan  on April 5
Armenia, Egypt discuss possible cooperation in renewable energy,  energy infrastructuresArmenia, Egypt discuss possible cooperation in renewable energy,  energy infrastructures
 State Control Service returned about 121 million drams to budget in  2022 State Control Service returned about 121 million drams to budget in  2022
Vahan Kerobyan: No outflow of immigrants is expected in near futureVahan Kerobyan: No outflow of immigrants is expected in near future
Vahan Kerobyan: During the year, 7,328 companies and individual  entrepreneurs were registered in Armenia by Russian citizensVahan Kerobyan: During the year, 7,328 companies and individual  entrepreneurs were registered in Armenia by Russian citizens
This year, demand is gradually stabilizing, and growth of Armenian  economy to be 4.2% - EDBThis year, demand is gradually stabilizing, and growth of Armenian  economy to be 4.2% - EDB
Global economic recession risks remain significant - EDBGlobal economic recession risks remain significant - EDB
"MTS Armenia" changes its owner
Armenia`s former premier records absolute decline in population`s  living standards for 2018-2022Armenia`s former premier records absolute decline in population`s  living standards for 2018-2022
Armenia on way to modernization of major branches of its economy -  vice-premierArmenia on way to modernization of major branches of its economy -  vice-premier
Karen Karamyan: 70% of Ameriabank`s business loans are provided  through Ameria Business online platformKaren Karamyan: 70% of Ameriabank`s business loans are provided  through Ameria Business online platform
Ameriabank`s cosmic pavilion at DigiTec: Digital services,  consultations, lotteries, charity, discussionsAmeriabank`s cosmic pavilion at DigiTec: Digital services,  consultations, lotteries, charity, discussions
Armenia plans to start negotiations with India to raise funds for  construction project of Persian Gulf-Black Sea corridorArmenia plans to start negotiations with India to raise funds for  construction project of Persian Gulf-Black Sea corridor
Hayk Yesayan: Team always has and will have innovative solutionsHayk Yesayan: Team always has and will have innovative solutions
IDBank - participant of DigiTec ExpoIDBank - participant of DigiTec Expo
Armenia`s GDP growth in 2018-2022 qualitatively significantly lower  than in previous 3 five-year plans - Hrant BagratyanArmenia`s GDP growth in 2018-2022 qualitatively significantly lower  than in previous 3 five-year plans - Hrant Bagratyan
Team Telecom Armenia is first among Armenia`s telecom operators to  provide access to 5G networkTeam Telecom Armenia is first among Armenia`s telecom operators to  provide access to 5G network
Vahan Kerobyan: Armenian companies do not fully exploit opportunities  in innovative termsVahan Kerobyan: Armenian companies do not fully exploit opportunities  in innovative terms
U.S. warning against countries` help to Russia: Armenia`s government  takes everything into account - MPU.S. warning against countries` help to Russia: Armenia`s government  takes everything into account - MP
Read more


Exchange rates
28.03.2023
RUB5.07-0.01
USD388.29-0.24
EUR420.211.84
GBP477.981.60
CAD284.051.01
JPY29.640.08
CNY56.48-0.06
CHF423.11-1.00