MINISTER SAYS RISE IN IMPORTS EVIDENCE OF IMPROVED SOCIAL CONDITIONS
Armenpress
Dec 26 2006
YEREVAN, DECEMBER 26, ARMENPRESS: Trade and economic development
minister Karen Chshmaritain attributed today a nearly 21 percent
rise in imports in January-November of this year to improving life
conditions of his country fellows.
Speaking to a news conference Chshmaritain cited the official figures
of Armstat which say that Armenia’s trade in January-November rose
13.5 percent from a year ago to $2.847 billion.
However, Armenian exports rose 0.3 percent, while imports rose 20.9
percent to $1.952 billion with a trade deficit of $1.057 billion.
The minister explained the growth in imports saying unlike some years
ago now a substantial portion of imports make advanced technologies and
equipment which local companies bring to modernize their productions.
He said at the same time more Armenian companies buy expensive
construction materials and more Armenians buy expensive consumer goods.
The minister said by the end of the year foreign investments in Armenia
were expected to grow year-on-year 20-25 percent to $400 million.
According to Armstat, foreign investments in Armenia’s real sector
economy in January-September, not counting funds received by the
government and banks, were $298 million, including $149 million of
direct investments, which were 32 percent more form a year ago. The
volume of direct investments grew 8 percent.
The biggest investors were Armenia International Airports, VivaCell and
ArmenTel telephone operators, ArmenAl aluminum plant, the Zangezour
Metallurgical Plant, Synopsis, EPG Labs, Viaspher Technopark and
Yunicomp IT companies.