Wednesday, January 29 2025 20:51
Alexandr Avanesov

Molybdenum export strategy developed in Armenia

Molybdenum export strategy developed in Armenia

ArmInfo. Funded by USAID, Ameria Management Advisory, Modex Consulting and international expert Andreas Klassen have developed Armenia's export strategic program, where molybdenum has been included in the list of leading products, as stated by Modex.  According to the source, in the coming years, separate actions are expected that will allow Armenia to strengthen its position on the "world map" of molybdenum producers. In modern industry, molybdenum is often used in alloys, due to its physicochemical properties ensuring the durability and resistance of equipment or individual parts in various corrosive environments, due to which such alloys are widely used in the production of missiles, chemical and pharmaceutical industry equipment, and  complex architectural structures.

Armenia is one of the world leaders in molybdenum production. In 2023, the country ranked sixth in the world in molybdenum production, with an indicator of 10,900 tons (about 4% of global production).  According to 2023 data, Armenia's relative competitive advantage in molybdenum, (including ferromolybdenum) (calculated using the Balassa index), was 171.  In molybdenum production, Armenia is second only to China, Chile, the United States, Peru and Mexico, despite all this, Armenia is not a member of the International Molybdenum Association (IMOA).

The concept of comparative competitive advantage was coined by the famous English economist David Ricardo. In modern economics, comparative competitive advantage is calculated using an index developed by Hungarian economist Bela Balassa, which compares the share of a given product's exports  in a country's total exports to the share of that product's exports in the world's total exports.

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