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New Europe , EU
Jan 15 2012
Exports soar in 2011
January 15, 2012 - 3:59pm
Data unveiled by the National Statistical Service (NSS) showed that
the exports in Armenia amounted to $1.21 billion in the first 11
months of 2011, a year-on-year increase of 31%, Armenia liberty.org
reported.
The reason for increase in exports at a double-digit rate amid faster
economic growth, were due to good performances in the domestic mining
and food-processing industries as well as the agricultural sector.
However, exports were dwarfed by imports that went up by 12.3%
amounting to $3.75bn. The more modest rise in imports was enough to
slightly widen the country's massive trade deficit in absolute terms.
Taking into account the growth of the Armenian economy by more than 4%
in 2011, the deficit is likely to have fallen as a share of GDP. The
NSS data also showed that base metals, ores and ore concentrates
comprise nearly 58% of the Armenian export revenue in the
January-November 2011 period.
Their exports were up by over 23%. A 53% rise in exports of precious
metals and stones and jewellery items that amounted to $180 million,
reads NSS data reflecting upswings in the diamond-processing and gold
mining industries. Armenia also exported $162.6mn worth of prepared
foodstuffs, up by 40% year on year. Exports of fruit, vegetables,
livestock and other agricultural products also witnessed a 34% rise,
reflecting robust growth in agriculture as reported by the government.
http://www.neurope.eu/article/exports-soar-2011
Jan 15 2012
Exports soar in 2011
January 15, 2012 - 3:59pm
Data unveiled by the National Statistical Service (NSS) showed that
the exports in Armenia amounted to $1.21 billion in the first 11
months of 2011, a year-on-year increase of 31%, Armenia liberty.org
reported.
The reason for increase in exports at a double-digit rate amid faster
economic growth, were due to good performances in the domestic mining
and food-processing industries as well as the agricultural sector.
However, exports were dwarfed by imports that went up by 12.3%
amounting to $3.75bn. The more modest rise in imports was enough to
slightly widen the country's massive trade deficit in absolute terms.
Taking into account the growth of the Armenian economy by more than 4%
in 2011, the deficit is likely to have fallen as a share of GDP. The
NSS data also showed that base metals, ores and ore concentrates
comprise nearly 58% of the Armenian export revenue in the
January-November 2011 period.
Their exports were up by over 23%. A 53% rise in exports of precious
metals and stones and jewellery items that amounted to $180 million,
reads NSS data reflecting upswings in the diamond-processing and gold
mining industries. Armenia also exported $162.6mn worth of prepared
foodstuffs, up by 40% year on year. Exports of fruit, vegetables,
livestock and other agricultural products also witnessed a 34% rise,
reflecting robust growth in agriculture as reported by the government.
http://www.neurope.eu/article/exports-soar-2011