ArmInfo. In Q1 2024, Armenia increased export supplies 2.7-fold , which was mainly due to the re-export of gold to the United Arab Emirates. Deputy Minister of Finance of Armenia Vahan Sirunyan stated during a meeting of the Standing Parliamentary Committee on Financial-Credit and Budgetary Affairs on June 7.
At the same time, he drew attention to the fact that the export of goods of Armenian origin during the reporting period decreased by 14.3% year-on-year.
According to Sirunyan, if we do not consider re-exports, a 9.2 percent decrease in import volumes was recorded in the first quarter. But if consider it, an increase in import deliveries was recorded at the level of 75.8%. The decrease in volumes, as noted during the meeting, was mainly due to a reduction in imports of cars from the Russian Federation (4-fold), which was provoked by the introduction of a recycling fee on cars in Russia, as well as a reduction in the supply of tobacco products due to an increase in excise tax.
On April 1, a new procedure for calculating the amount of payment for the import of cars from other countries - members of the Eurasian Economic Union (EAEU) came into force in Russia. Taxes and fees that were not paid due to underestimation of the customs value of vehicles imported to the Russian Federation from the EAEU countries will be considered from this date as part of the recycling fee, which is mandatory for payment by both individuals and legal entities. In November 2023, Russian President Vladimir Putin signed a law providing for an increase in excise rates on certain types of alcohol and tobacco. In 2024, the excise tax on cigarettes and tobacco will be 2813 rubles per 1000 pieces plus 16% of the estimated cost, calculated based on the maximum retail price, but not less than 3820 rubles; - not less than 3973 rubles in 2025; - not less than 4132 rubles in 2026.
