DECLINE IN ARMENIA’S EXPORT IS A RESULT OF DEVELOPMENTS ON INTERNATIONAL MARKETS, RA MINISTER OF TRADE AND ECONOMIC DEVELOPMENT SAYS

Noyan Tapan News Agency, Armenia
Oct 16 2006

YEREVAN, OCTOBER 16, NOYAN TAPAN. According to the RA Minister of
Trade and Economic Development Karen Chshmaritian, a 3.6% deline in
export in January-August 2006 on the same months of last year happened
as a result of the fact that the Armenian economy integrated into
international markets, and the developments taking place in those
markets affect Armenia’s export. The minister stated this during
hearings on the dram’s appreciation in the RA National Assembly on
October 16.

According to him, during the indicated period, the prices of
feromolybdenum, one of export products, declined by 60-65% on
international stock exchanges. Export of alcoholic drinks from Armenia
to Russia decreased by 13% as a result of some imperfect amendments
made to the RF legislation about circulation of such drinks. The
decline in jewelry export is also related to some continuous declines
on the international market.

The minister explained the 20% import growth in January-August 2006
on the same months of 2005 by an increase in equipment and technology
import.