Armenia’s domestic trade in 2015 falls by 6.4 percent
03.02.2016,
16:34
Armenia’s domestic trade in 2015 decreased by only 6.4% to about 2.3 trillion drams against the backdrop of a serious decline in money transfers from abroad, economy minister Karen Chshmarityan told a news conference today.
YEREVAN, February 3. /ARKA/. Armenia’s domestic trade in 2015 decreased by only 6.4% to about 2.3 trillion drams against the backdrop of a serious decline in money transfers from abroad, economy minister Karen Chshmarityan told a news conference today.
According to the Central Bank data, private remittances to Armenia in 2015 sent via banks slashed by 30.1% or $520 million from the previous year to about $1.208.470 billion. About 76% of that amount came as usual from Russia. More specifically, remittances form Russia decreased by 36.1% to about $915.9 million, while remittances from Armenia to Russia grew by 0.6% to $204.57 million.
Chshamrityan argued that the slow pace of decline in domestic trade turnover was partly due to many employers’ decisions last year to raise their personnel salaries.
Asked how the domestic trade could fall by only 6.4% when imports slashed by 26.5%, the minister said it could possibly happen at the expense of domestic production.
According to the ministry of economy, despite the domestic trade decline, in 2015 some 1,120 new retail trade outlets opened, which was by 6.7% more than a year earlier.
According to the National Statistical Service, Armenia's foreign trade turnover in 2015 fell by 20.6% from 2014 to about $4.75 billion. Exports declined by 3.9% to about $1.5 billion. The decline in exports was largely due to a 25.3% drop in exports to CIS member countries and a 5.2% drop to the EU.
In particular, exports of food (including drinks) fell by 8.9%, exports of plastic and plastic products – by 0.7%, exports of stone, plaster and cement plummeted by 45.1%, exports of semi-precious stones, precious metals and related products fell by 10.6% and exports of base metals and related products fell by 24.1%.
Meanwhile, exports to Turkmenistan grew by 17.8%, to Great Britain – by 3.1 times, to Spain – by 3.1 times, to France – by 20.3%, to Italy – by 42%, to Switzerland – by 2.5 times, to Iraq – by 62%, to Canada – by 20.3% and to Georgia – by 37.6% .- 0--
According to the Central Bank data, private remittances to Armenia in 2015 sent via banks slashed by 30.1% or $520 million from the previous year to about $1.208.470 billion. About 76% of that amount came as usual from Russia. More specifically, remittances form Russia decreased by 36.1% to about $915.9 million, while remittances from Armenia to Russia grew by 0.6% to $204.57 million.
Chshamrityan argued that the slow pace of decline in domestic trade turnover was partly due to many employers’ decisions last year to raise their personnel salaries.
Asked how the domestic trade could fall by only 6.4% when imports slashed by 26.5%, the minister said it could possibly happen at the expense of domestic production.
According to the ministry of economy, despite the domestic trade decline, in 2015 some 1,120 new retail trade outlets opened, which was by 6.7% more than a year earlier.
According to the National Statistical Service, Armenia's foreign trade turnover in 2015 fell by 20.6% from 2014 to about $4.75 billion. Exports declined by 3.9% to about $1.5 billion. The decline in exports was largely due to a 25.3% drop in exports to CIS member countries and a 5.2% drop to the EU.
In particular, exports of food (including drinks) fell by 8.9%, exports of plastic and plastic products – by 0.7%, exports of stone, plaster and cement plummeted by 45.1%, exports of semi-precious stones, precious metals and related products fell by 10.6% and exports of base metals and related products fell by 24.1%.
Meanwhile, exports to Turkmenistan grew by 17.8%, to Great Britain – by 3.1 times, to Spain – by 3.1 times, to France – by 20.3%, to Italy – by 42%, to Switzerland – by 2.5 times, to Iraq – by 62%, to Canada – by 20.3% and to Georgia – by 37.6% .- 0--
