Wednesday, January 10 2018 19:31
Alina Hovhannisyan

Expert: Growth in trade volume in Armenia is conditioned by tourism factor

Expert: Growth in trade volume in Armenia is conditioned by tourism factor

ArmInfo. The trade sector of Armenia went up by 14.4% growth due to an increase in the activity of the tourism industry. The economist, the chairman of the Employers' Union of Armenia Gagik Makaryan, expressed opinion during the press conference on January 10.

In this regard, the expert noted that in Armenia, as a result of the year, there was also a sharp increase in the production of bed linen, which was due to the high demand coming from hotel facilities. At the same time, the deficit of meat, which was observed in 2017 and the increase in prices for it, Makaryan also explained the increase in the number of tourists. In particular, the expert noted that the production of meat and semi-finished products in Armenia increased by 50-55%, and detergents and soaps - almost 2.2 times.

Makaryan noted that Armenia's foreign trade during the reporting period also demonstrates positive trends.  In this regard, he stressed that after summarizing the results for December 2017, which was quite active for Armenia, exports will increase by 25%, and imports will increase by 30%.

However, despite certain positive trends in the economy, the level of poverty in the country will remain at the same level. The expert does not exclude the absence of any progress in reducing the poverty line in the current year. Markaryan, by and large, associates this situation with the persistence of inflation rates and the non-use of preemptive measures.

The poverty level in Armenia, according to the forecasts of the World Bank, will decrease in 2017-2018 to 24.1-23.2%, against 24.9% in 2016 and 25.6% in 2015. According to the National Statistical Service of Armenia, the turnover of Armenia's trade sector in January-November 2017 by the same period of 2016 increased by 14.4% against growth of 0.3% a year earlier, to 2.3 trillion AMD ($ 4.7 billion). The foreign trade turnover for the reporting period increased by 26, 4% to $ 5.7 billion, with exports growing by 23.5% to $ 2 billion, imports by 28% to $ 3.7 billion.

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