YEREVAN. – The Center for Economic Development Initiatives has touched upon the dynamics exports of Armenia in the first nine months of 2018 and 2019.

Accordingly, exports increased by 7.9% to US$1.9 billion during the period under review, whereas exports to EU countries dropped by 14.7% to about US$453 million.

The 6.4% increase in exports to other EEU countries is mainly due to the 6.8% increase in exports to Russia.

Export growth to other CIS countries is mainly driven by the 43.8% increase in exports to Ukraine.

The increase in exports to other countries is mainly driven by the increase in exports to the following main partner countries: Switzerland - 39.1%, China - 63.8%, Iraq - 27.9%, and Canada - 80.8%.

With main partner United Arab Emirates, however, a 29.7% drop in exports was recorded.

The decline in exports to EU countries is mainly due to the 54.7% decline in exports to Germany.

Thus, while overall exports increased by 7.9% in the period under review, it was mainly to the EEU member states and some other countries, whereas exports to the EU countries recorded a 14.7% decline.