Armenia’s import of Aluminium Wire during 2019-20 reflects upswing; 15.81% de-growth expected in 2021

Vahan Qerobyan, Armenian Minister of the Economy articulated positive about the country’s estimated performance in 2021, as he expects double-digit growth. He said inflation would not exceed 2-2.5% and that Armenia has significantly less inflation than its neighbours. As for 2020, Qerobyan said he expects Armenia’s economy to have declined by 8.5% when all the numbers were in and reviewed. “There’s been a 20% drop in imports, exports and consumption,” he said. The International Monetary Fund has predicted that Armenia's economy will grow by 1% this year.

The nation’s import of aluminium wire in 2019-20 has been recorded at 366 tonnes and the expenditure incurred for the import remained at $3.43 million. The import for 2021 has been analysed to be standing at 165 tonnes and expenditure to remain at $2.71 million.

Armenia’s import of aluminium wire in 2019 stood at 170 tonnes and the expenditure accounted to $1.13 million, whereas, in 2020, the import grew by 15.29%, as the import volume rose to 196 tonnes and the expenditure also surged to $2.30 million.

The import for 2021 is analysed with a drop by 15.81%, as the import volume is expected to shrink at 165 tonnes, while expenditure tends to remain high at $2.71 million.

Armenia’s major trading nations for the importation of aluminium wire are Netherlands, Russia, etc.