By Smbat Grigoryan

YEREVAN. – In 2014, there were negative trends in Armenia in terms of retail trade, and the latter are dropping at the current prices. 

That is to say, the Armenian residents’ spending on buying goods has reduced overall, as compared to the year past. 

The reduction is due to the family budget cuts among a part of the population, and this drop is directly linked to the decrease in remittances from abroad.

According to a study by the Central Bank of Armenia, the overwhelming part of these money transfers to the country is spent on current needs, and therefore the drop in remittances has first impacted the sale of products. 

Armenia retail trade’s dependence on transmittals is so apparent that it does not need any special explanations.