Wednesday, September 8 2021 20:11
Alina Hovhannisyan

Armenia cuts gold exports, increasing imports

Armenia cuts gold exports, increasing imports

ArmInfo. In H1 2021, 1372.6 kg of gold were exported from Armenia (including electroplating), with a y-o-y decline of 49.8% (against 11.8% decline a year earlier).

According to the data of the RA Customs Service, the customs value of  exported gold decreased by 58.9% in H1 2021, amounting to $ 51.1  million.

During the reporting period, Armenia exported gold mainly to India  (98.9%), and the remaining volume was distributed between the UAE,  Hong Kong and Italy.

At the same time, Armenia increased gold imports by 5.9% (against a  67.5% decline a year earlier) to 680.5 kg, while the customs value  increased by 29.3% to $ 39.1 million.

According to the source, the dominant volume of gold was imported  from the Russian Federation (79.5%), and another 18.5% from the UAE,  and a scanty 1.9% from the United States and 0.1% from Germany.