Armenia`s foreign trade sees sharp decline after neutralization of diamond and gold re-export factor

 Wednesday, July 9 2025 15:27:00
Armenia`s foreign trade sees sharp decline after neutralization of diamond and gold re-export factor

ArmInfo. In Armenia's foreign trade, transactions involving precious metals and stones have seen to decline since 2025, amounting to 25% ($1.97 billion) in total from January- May, compared to 65% ($9.99 billion) a year ago. This category of goods has  played a decisive role in the deterioration of  the annual dynamics of the country's foreign trade turnover, which has dropped from a 2.2- fold increase to a 49% decline. According to  data from the RA Statistical Committee, in January-May 2025, the share of imports and exports of precious metals and stones in the total trade turnover fell to 19% and 35%, respectively. In the same period last year these figures were 57% and 73%. 

Armenia`s diamond exports and imports up
 Tuesday, August 6 2024 19:34

ArmInfo.In 2023, Armenia  increased diamond exports by 88.2% to 4,458.7 thousand carats, with a  customs value increase of 41.5% to $592.8 million. This is evidenced  by the data of the RA Customs Service 

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Dramatic growth in Armenia`s gold exports, imports in 2023
 Tuesday, August 6 2024 19:24

ArmInfo. In 2023, Armenia  increased its export and import of gold (including galvanic  sputtering) several times. According to the data of the Customs  Service of Armenia, last year Armenia exported 29,122.3 kg of gold,  which is 3.2 times more than the figure for the previous year  (against a 2.3-fold increase in 2022). The customs value increased  4.3 times, amounting to $1.8 billion.

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Negative migration balance in Armenia
 Tuesday, August 6 2024 16:05

ArmInfo. In the first half of  2024, 864,629 citizens of the Armenia returned to Armenia from  abroad, while 887,522 citizens of Armenia left the country.

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In the first half of the year, Armenia decreased wine production, but increased cognac production
 Tuesday, August 6 2024 14:20

ArmInfo. According to data from the RA Statistical Committee, wine production volumes in Armenia significantly decreased in the first half of 2024, while cognac production increased. In particular, the annual decline in wine volumes amounted to 38.5%, while the annual growth in cognac volumes was 14.7%. 

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The population of Armenia has exceeded the 3 million mark
 Tuesday, August 6 2024 12:14

ArmInfo. According to data from the Statistical Committee of Armenia, the population of Armenia as of July 1, 2024 reached 3,057.8 million people, increasing by 3.8% or 112.3 thousand people year-on-year (compared to 0.8% growth or 23.2 thousand people a year earlier). 

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Revenue in communications sector experiences accelerated growth
 Monday, August 5 2024 18:39

ArmInfo. The revenue  of Armenia's communications sector in the first half of 2024 amounted to 81.4 billion drams ($205.6 million), showing an annual growth rate increase from 4.7% to 5%. This information is supported by data from the RA Statistics Committee, according to which in June of the same year, the total revenue of the communications sector was 13.9 billion Armenian drams, with a month-on-month growth of 1%.

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The decline in dominant segments slow down growth of services sector
 Monday, August 5 2024 17:48

ArmInfo. In Armenia, in the first half of 2024, the services sector experienced a slowdown in annual growth from 16.8% to 4.4%, reaching a total volume of 1.5 trillion AMD ($3.9 billion). According to data from the RA Statistics Committee, in June alone, the volume of services provided increased by 5.6%, totaling to 282.8 billion AMD ($728.9 million). The annual growth slowdown was primarily caused by a decline in the performance of the leading sectors in terms of service volume, the information and communications and the transport, which are traditionally in the TOP-5 in terms of services provided.

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Armenia`s metallurgical industry accelerates growth in the first half of the year
 Monday, August 5 2024 16:41

ArmInfo. Armenia's metallurgical industry has experienced a growth, shifting from a 7% decline to 8% growth. This is evidenced by the data of the RA Statistical Committee for the first half of 2024. 

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Further slowdown in economic activity growth in Armenia
 Monday, August 5 2024 14:44

ArmInfo. In Armenia, economic  activity growth in the first half of 2024 slowed to 10.4% per annum  (from 11.4% in the same period of 2023). But unlike last year, the  industrial sector has become a key growth driver. According to the  final data of the RA Statistical Committee, this is accompanied by  continued high growth rates of exports and imports.

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Wine output records 32.6% y/y decline in Jan-May 
 Friday, July 12 2024 11:06

ArmInfo. Wine production in Armenia in January-May 2024 decreased by 32.6% per annum, amounting  to 3.8 million liters, sparkling wine (champagne) - by 19.3% to 444.8 thousand liters. This is evidenced by the data of the Statistical Committee.

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Unemployment up in Armenia 
 Tuesday, July 9 2024 14:52

ArmInfo. In the first quarter of 2024, the unemployment rate in Armenia was 15.5%, while a year  earlier for the same period the unemployment rate was slightly lower - 13.7%. This is evidenced by the data of the RA Statistical Committee.

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Armenia`s economy vulnerable to external shocks - EFSD
 Tuesday, July 9 2024 12:22

ArmInfo.In 2024, the growth of the Armenian economy will slow down slightly, but will remain at a  high level of 6.3%. This is stated in the regional economic review of the Eurasian Fund for Stabilization and Development (EFSD) for the summer of 2024.

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Industrial price index began to rise amid high industrial production  growth in Armenia
 Tuesday, June 25 2024 17:55

ArmInfo. The industrial price index began to rise in Armenia. Thus, in January-May 2024, the industrial price index was 102.2% (versus 98.4% in the same period of 2023), amid the sharp acceleration in the y-o-y growth of the industrial sector from 3% to 22% in January-May 2024, up to 1.2 trillion drams ($2.97 billion). 

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Economic activity growth in Armenia gradually slows down
 Tuesday, June 25 2024 17:54

ArmInfo.The growth of economic activity in Armenia slowed down to 11.2% per annum in January-May  2024(from 12.5% in the same period of 2023). But, unlike last year, now the industrial sector is the driving force of growth. According to preliminary data from the RA Statistical Committee, this is accompanied by continued high growth rates of exports and imports.

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Higher-rate economic activity growth in Armenia 
 Thursday, June 6 2024 12:11

ArmInfo. In Armenia, the growth of economic activity in January-April 2024 accelerated to 13.2% per  annum (from 12.2% in the same period of 2023). But unlike last year, now the driver of growth is not only the trade sector, but also the industrial sector. As evidenced by the final data of the RA Statistical Committee, this was accompanied by continued high growth rates of exports and imports.

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YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to  cheaper food products
 Wednesday, June 5 2024 15:47

ArmInfo. YOY inflation in Armenia decreased from 1.3% to 0.3% in May, due to cheap prices of the most  demanded food products. Thus, in May 2024 compared to May 2023, food products decreased in price by 1.1%, almost repeating last year's decline of 1.2%. Moreover, butter, buckwheat, pasta, flour, cereals,  cheeses, fish, sugar, and meat fell in price most noticeably. 

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Price index for industrial products in Armenia, began to rise amid  high growth in industrial production
 Monday, May 27 2024 13:46

ArmInfo. In Armenia, the price index of industrial products began to rise. Thus, in January-April  2024, the price index for industrial products totaled 100.7% (versus 98.9% in the same period in 2023). This was observed against the backdrop of a sharp acceleration in the y-o-y growth of the industrial sector from 2.4% to 26.8% in January-April 2024, providing volumes of 953.3 billion drams ($2.4 billion).

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Food products, services cause of 0.8% inflation in Jan-Apr 2024 
 Friday, May 10 2024 13:19

ArmInfo.In Armenia, four-month inflation of 0.8% was triggered by food and services, which rose in  price by 1.8% and 0.9%, respectively, while non-food products fell in price by 1.6%. This is not much different from last year's picture, when in January-April 2023 inflation of 0.9% came from an increase in  food prices by 1.6% and an increase in the price of services by 1.1%, with a decrease in the price of non-food goods by 1%. This is evidenced by the data of the RA Statistical Committee.

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Armenian service sector generated revenue of $1.2 billion in first  two months
 Monday, April 8 2024 16:56

ArmInfo.Service sector of Armenia provided revenue in the amount of 473.1 billion drams in Jan-Feb 2024 ($1.2 billion), slowing down in y-o-y growth from 23.5% to 5.2%. This is evidenced by data from the RA Statistical Committee, according to which in February alone, the service sector showed a decline of 0.3% - to 236.2 billion drams ($584.2 million).

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Armenia`s metallurgical industry increased production volumes by 37%  in first 2 months
 Monday, April 8 2024 16:01

ArmInfo. Metallurgical industry of Armenia increased production volumes by 37% per annum in Jan-Fe  2024 (versus a 31% decline a year earlier). This is evidenced by the data of the RA Statistical Committee.

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