Armenian budget revenue will grow additionally by $10 million if exports reach $3.3 billion- minister says
"The budget will receive additionally $10 million in revenue if our exports reach $2.8 billion -$3.3 billion by 2020 and make 19% of GDP, a figure that is in contained in the government’s strategic development program designed for 2014-2025. Today the figure is 10-12% of GDP,’ the minister said.
Chshmaritian said the government plans also to set up trade offices in six countries to promote exports.
"Export promotion implies creation of seven new laboratories at the National Institute of Metrology, as well as increasing the capacity of the National Institute of Standards," said Chshmaritian.
According to him, the government wants to have it least two laboratories that will meet international standard of ISO by 2019.
According to the National Statistical Service data, Armenia’s exports in 2014 were worth $1.5 billion, an increase of 2.7% from the previous year, while imports increased by 0.4% to about $4.4 billion. The resulting trade deficit amounted to about $2.9 billion.
The share of exports in overall GDP was 13.8% last year. According to the latest NSS figures, exports in January-May 2015 stood at about $488.6 million, down 15.2% year-on-year, while imports stood at a little over $1 billion, a decrease of 38%. -0-