The fall of the dram did not become an incentive to increase exports from Armenia, as claimed by the central bank of the country, on the contrary: at the end of November and in December, exports fell by 18%, the chairman of the "Union of Armenian Exporters" Raffi Mkhchyan said today.
According to the expert, exporters of agricultural commodities initially could not benefit from the devaluation of the dram, as the national currency also devalued on the main export market in Russia.
Mkhchyan noted the presence of economists predicting such fluctuations, whose opinions, however, are not heard. He refused to associate the impairment of the dram with the situation in Russia, noting that Armenia has a lot of internal problems that have affected the financial market, Epress.am reports.
The negative picture was also worsened due to speculations of certain people, "if it continued longer, the speculation could have led to even greater panic."
Regarding exports, the chairman of the Union of Armenian Exporters said that industrial products dominating by up to 65%, the food industry - 20-25%, and information technology has the rest, which has a lot of potential.
Food produced in Armenia might not delight abroad, and basically it is consumed in Germany by Armenians living there, Raffi Mkhchyan concluded.
