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%.
