Armenia`s manufacturing hits historic low of 9% of GDP- Suren Karayan

ArmInfo.  During a presentation of Samvel Karapetyan's "5 Steps to a Strong Armenia"  economic program, former Minister of Economy Suren Karayan pointed  out the country's shifting economic structure. According to Karayan,  the share of manufacturing in Armenia's GDP has plummeted to a record  low of 9% in 2025. 

"If we estimate the year 2025, we can say that we've reached a  historic low. That is, the share of manufacturing will be 9%. We  haven't seen such a picture in a long time," he emphasized.  Karayan  also cited indicators for European countries, noting that the  manufacturing typically accounts for roughly 24% of GDP. "And under  these conditions, they are considering every possible measure to  stimulate industrial development. Armenia has reached a critical  point where re-industrialization is no longer just a goal but a  necessity for survival," the former minister said.  At the same time,  he presented the situation with export activity, emphasizing that a  significant decline was recorded in 2024 compared to 2021. Excluding  re-exports, the share of exports in GDP fell by 65%, and in volume  alone, by 12%. "This only shows that such an economy built on  service-sector-growth and re- exporting  cannot ensure sustainable  development," the former minister said.

According to the former official, the country's economic program  should focus on developing a technologically advanced industry,  establishing an export-oriented economy, and enticing transnational  companies to invest in  our market. This will result in the creation  of new employment opportunities,  the acquisition of new knowledge  and culture and ultimately ensuring geopolitical and economic  security. Over the next 5 years, as Karayan noted, it is necessary to  double the share of the manufacturing industry in GDP - from 9% to  18-20%, and exports - from 13% to 40%.