ArmInfo. Armenia increased export deliveries 2.2-fold In October. Armenian Minister of Economy Vahan Kerobyan announced this during a briefing. "This suggests that, despite numerous problems, great opportunities have opened up for Armenian producers," he stressed.
The minister explained that with the exit of many foreign companies from the Russian market, the resulting vacuum is successfully filled, including by Armenian manufacturers. At the same time, he said that in the coming days, the Ministry of Economy will hold a meeting with the export community of Armenia to discuss the existing problems and opportunities.
Speaking about the problems, he recalled that after the explosion on the Crimean bridge, the mechanisms for checking Armenian cargo from the Russian side were tightened, which affects the throughput at the Upper Lars checkpoint. Among the queue formed, according to him, there are manufacturers of perishable products that suffer losses. In this regard, Kerobyan said that daily negotiations are being held with Russian partners in order to speed up the throughput at the checkpoint. He also reported on a conversation that had taken place the day before with the Minister of Economic Development of the Russian Federation Maxim Reshetnikov, with whom mechanisms for resolving the situation were discussed.
It should be noted that according to the Statistical Committee, the foreign trade turnover between Armenia and Russia exceeded $3.2 billion in January-September 2022, with a sharp acceleration in y-o-y growth from 13.5% to 80.5%, mainly due to increased exports. In particular, the volume of exports of goods from Armenia to Russia significantly accelerated the y-o-y growth from 27.4% to 2.4-fold, which, with a slightly less restrained upward pace, was also observed in terms of the volumes of import of goods from Russia to Armenia, from 7.6% to 52.3%, with the provision of volumes of 1.4 billion dollars and 1.8 billion dollars, respectively. As a result, Russia's share in Armenia's foreign trade turnover increased from 31% to 34.5% year-on-year, with a noticeable increase in the share in exports from 27.7% to 40%, accompanied by a slight decrease in the share in imports from 33% to 31.1%.
