Economy

In January-August 2024, Armenia’s trade turnover amounted to 21.74 billion USD. Germany was Armenia’s fifth-largest trading partner, with a trade volume of 313.9 million USD.

On October 15, Armenia’s Minister of Territorial Administration and Infrastructure, Gnel Sanosyan, held a bilateral meeting with Turkey’s Minister of Transport and Infrastructure, Abdulkadir Uraloğlu

The Armenia-UAE trade turnover has seen a remarkable surge in the last five years. Since 2022, export levels have skyrocketed.

At the end of September, the government approved the draft law “On the State Budget of the Republic of Armenia for 2025”. It has been sent to the National Assembly and is yet to be discussed.

During the conference titled “Crossroads of Peace: Connecting Security and Democracy,” Secretary of the Security Council Armen Grigoryan stated that strategic goods could shift, for instance, moving from wheat to rice.

In 2024, the Nobel Prize in Economics was awarded to Daron Acemoglu, who is of Armenian descent

The value of exports from Armenia from the beginning of the year until August exceeded the total figure for the entire previous year.

Construction in Armenia gained significant momentum last year. Today, construction is underway both in the capital and beyond, but according to forecasts, this figure will decrease considerably compared to last year.

Yesterday, the Prime Minister of Armenia, Nikol Pashinyan, met with France’s newly appointed Prime Minister, Michel Barrier. The prime ministers welcomed the development of bilateral trade and economic cooperation. The French Prime Minister also expressed his special regard for Armenia and the Armenian people.

An interdepartmental discussion was held at the Ministry of Internal Affairs’ Rescue Service, focused on the management of hazardous chemical substances present at the “Nairit Factory”