Economist Ashot Tavadyan has predicted an increase in exports of goods from Armenia by 2-5%.

According to him, in the first half of the year, exports fell by 6.5% to $1.109 million.

He noted that Armenia’s industry shows a growth trend, which will contribute to the growth of exports in the second half of the year.

Tavadyan added, however, that against the backdrop of the decline in foreign trade in the first half of the year, exports from Armenia to Belarus and Kazakhstan have increased by 28.1% and 8.6%, respectively. At the same time, in the conditions of the coronavirus pandemic, the stable growth of exports to Russia decreased by 19.1%.

In addition, imports of goods from Russia increased by 18.1% in the first half of the year, as well as the imports from Belarus.

Tavadyan also pointed to the trend of diversification of the export structure starting from 2018.

According to him, such trends show the importance of the EEU market for Armenia. According to Tavadyan, this diversification continues. "All the opportunities of the EEU should be used in order to ensure further growth of exports," he added.