Armenia

MARKET OF ARMENIA

ARMENIA'S MARKET OVERVIEW

Armenia is a powerful country in terms of industry and income. Armenia in industry, tourism, services, agriculture experienced great prosperity. Armenia's most important trading partners in terms of exports are Russia‎, ‎Switzerland, Bulgaria, Iraq, the Netherlands, China ‎‎(4.50%) and Iran. Iran plays a more active role in Armenia's imports. The people of Armenia in general have a very similar culture to Iranians. Armenia's ranking in the world is upwards in property purchase and construction.

What are the geography, politics and neighbors of Armenia?

Armenia is a powerful country in terms of industry and income
Armenia is a powerful country in terms of industry and income

Armenia is located in the South Caucasus, which borders Georgia to the north and the Republic of Azerbaijan to the east. The country is generally divided geographically into three regions: Greater Armenia, Lesser Armenia, and New Armenia. If you look at the history of Armenia, both Greater and Lesser areas, you will remember ancient Armenia. These two lands were separated. 

Armenia is larger than the other two regions and includes 15 important states. Armenia is a powerful country in terms of industry and income and can include the simplest system, and more than in previous years Armenia has been chosen as a suitable place to live, and this is due to the precise and necessary work environment in Armenia. It was able to provide the best conditions.

Type of government and political structure of Armenia
Armenia consists of 11 provinces and is one of the countries of the South Caucasus. It is bordered by Georgia to the north and Azerbaijan to the east. The political regime in Armenia is a democratic republic with three independent branches of the executive, the legislature and the judiciary. The main legislative body in Armenia is the National Assembly. 

As it turns out, the country consists of 131 seats, of which 90 are party members and 41 are in solitary confinement. In general, the existing tasks are divided into three sections: legislation, oversight, performance organization, and parliamentary activities. The presidency holds a vote every five years. 

The political situation in Armenia has changed from a republic to a parliament in a certain period of time, as evidenced by the fact that the referendum atmosphere in this country is precisely and routinely defined. The cities of Armenia have each been formed at a specific time in history. The language of Armenia has undergone many changes in its politics. The price of the Armenian dram has changed throughout history.

Economy and financial resources and income of Armenia

Armenia in industry, tourism, services, agriculture experienced great prosperity
Armenia in industry, tourism, services, agriculture experienced great prosperity

In recent decades, in addition to industry, sectors such as tourism, services, agriculture have also experienced great prosperity. Especially tourism, which in recent years has attracted many Iranians to this country.

Due to its mountainous texture, Armenia has long been a place for the extraction of various minerals. For this reason, different types of mines are active in it. The most important of these mines in Armenia are gold, iron, copper, salt and some other minerals.

However, main factor of the Armenian economy can be considered energy. Armenia as Iran's northern neighbor does not have much oil, fossil fuel or gas resources. The information for the years 2018 and 2019 and is based on data from international organizations such as the International Labor Organization, the International Monetary Fund and other organizations indicated industry is the main foundation of the Armenian economy. 

Industrial production in this country was 4% of the total Soviet production. After Armenia's independence, the economic situation stagnated. Economic sectors are left in a state of disuse. In this country, a free market economic system is seen, which includes the aid of international organizations. As it is known, the sharp decline in 2009 was caused by the global crisis, but in 2011 the economic trend of Armenia climbed to 4.7 percent.

Armenia's income is provided through the export of goods such as diamonds and minerals such as stone, copper and metal parts. Various industries are operating in Armenia in the field of chemical production, electronic components and tools, machinery as well as food. Agriculture accounts for about 44% of the workforce in the country and industry accounts for 42% of the workforce. 

Evidence shows that Armenia's financial institutions and institutions are operating in good condition. Inflation has been in equilibrium in Armenia since 1998. The country has controlled its economic growth.

What are the trade statistics of Armenia?‎

Armenia's most important trading partners in terms of exports are Russia‎, ‎Switzerland, Bulgaria, Iraq, the Netherlands, China ‎‎(4.50%) and Iran
Armenia's most important trading partners in terms of exports are Russia‎, ‎Switzerland, Bulgaria, Iraq, the Netherlands, China ‎‎(4.50%) and Iran

One of Armenia's main obstacles to expanding trade with the rest of the world is its landlocked access to ‎the sea. This has increased Armenia's need for its neighbors, while its two main neighbors, Turkey and the ‎Republic of Azerbaijan do not have good political relations with Iran's northern neighbor. Although the two ‎countries have trade relations with Armenia, this relationship has always been affected by political ‎conflicts.‎

These issues have created a unique business opportunity for other neighbors and countries close to ‎Armenia. Especially for Eurasian Union countries that have special privileges to trade with each other.‎

The combination of these factors has made Russia‎ one of Armenia's most important trading partners. ‎Although Iran has a significant share in trade with this country, it is significantly different from Russia‎.‎

It also exports a significant amount of goods to Iran. In the following, we will get acquainted with the main ‎partners of Armenia in the discussion of export and import.‎

Which countries are Armenia's main export partners?‎
Russia‎ is the main trading partner with 26.93%. This is while the two countries do not have a common ‎border. Although they are geographically very close to each other, but having cultural and historical ‎commonalities alongside the Eurasian Union's trade advantages seems to have helped warm the ‎Armenian-Russia‎n trade.‎

The latest data from the World Trade Organization (WTO) in 2018, which shows the largest volume of ‎Armenian exports to different countries.‎

In addition to Russia‎, Armenia's most important trading partners in terms of exports are Switzerland ‎‎(14.16%), Bulgaria (9.10%), Iraq (6.32%), the Netherlands (5.55%), China (4.50%) and Iran‎‏ ‏‎(3.95%), ‎respectively‏.‏

Some of these countries, including Russia‎ and China, also play a significant role in exports to Armenia, ‎which indicates their trade relations with each other.‎

Which countries are Armenia's main partners in importing goods?

Iran plays a more active role in Armenia's imports
Iran plays a more active role in Armenia's imports

About 5.55% of Armenian goods are imported from Iran.‎ Russia and China are still Armenia's main partners in the import trade. The chart below is based on the World Trade Organization (WTO) statistics for 2018, which show Armenia's main partners in the import of goods.

 What are goods imported to Armenia?
One of the most important imported items of Armenia since the beginning has been fuel and various types of energy. Because this country does not have much oil and energy resources. Most fuel and oil products are imported to Armenia from Russia. In addition to oil and other fuels, other products such as electrical machinery and equipment, medicine, tobacco, plastics are at the top of Armenia's import needs.

The following is a list of Armenia's most important imports in 2018, which is in line with the latest World Trade Organization statistics.

  • Types of fossil fuels and oils
  • Electrical and electronic equipment
  • Vehicles
  • Plastics and polymer products
  • Furniture, prefabricated buildings and neon lights
  • Boilers, industrial boilers and related equipment
  • Mineral and precious stones and precious metals
  • Pharmaceutical products
  • Tobacco, and cigarettes
  • Iron and steel

In addition to the above products, various other products are imported by this country that traders and exporters can focus on their exports. These products include medical equipment, clothing and textiles, aluminum, paper and some other products.

Relations between the European Union and the Republic of Armenia are based on the Comprehensive and Enhanced Partnership Agreement (CEPA), a modern, ambitious Agreement, which was signed on 24 November 2017 and entered into full force on 1 March 2021. This Agreement provides a framework for Armenia and the EU to work together to advance mutual interests in the areas of strengthening democracy, the rule of law and human rights, creating more jobs and business opportunities, fairer rules, more safety and security, a cleaner environment, and better education and opportunities for research.

The EU is a key reform partner in Armenia. The EU has stepped up its support and almost doubled its annual allocation in grants to €65 million annually in 2019 and 2020. Its current substantial portfolio focuses on supporting the government’s reform agenda, private sector development, human capital, and development of focal regions. In addition, since 2014, more than €1 billion in the form of blended loans and grants has been invested in the energy, agriculture and transport sectors.

Culture and progress of the Armenian people

The people of Armenia in general have a very similar culture to Iranians
The people of Armenia in general have a very similar culture to Iranians

In this country, people shake hands when greeting each other, and if they are very intimate, they kiss each other. The economic situation in Armenia is such that it can create a very ideal atmosphere. There are many religious festivals in this country and in general the people of Armenia try to adhere to religious festivals. Evidence shows that some people still adhere to traditional clothing and wear long, embroidered shirts in the clothes worn by the people of this country.

In this country, people are very serious in the workplace, so it can be seen that they never joke with each other or avoid laughing too much. National holidays are so important in Armenia that Christmas is an important part of the country.

Progress in Armenia
Progress in Armenia has different categories, meaning that the country has placed most of its emphasis on economic growth, although it has also achieved a good ranking in the field of education. Armenia is also a strong country in terms of business and its business growth is very high. Recent studies have shown that the country has been able to use the simplest revenue-generating sectors. As it turns out, the industrial sectors in Armenia are doing their best, and the country has also grown very well in the industrial field.

The Armenian government is directing its policies precisely and has been paying more and more attention over the years. As it turns out, Armenia's macro-incomes are such that it can also contribute to global economic growth.

The country has also had a high growth rate in the field of fuels, so that the fuels exported from Armenia are very famous all over the world, and it is clear that the product is of high quality. Transportation is another part of Armenia, in this country the transportation space is going in the simplest possible way and it is clear that the expenses of this sector have also been controlled and it has been able to include good progress. The conditions and information seen in the field of agricultural products of Armenia show that the country has accurately and routinely used the simplest economic sectors and achieved the right result.

General laws in Armenia
In Armenia, it is better to be a little careful when traveling from the street. You need more than luck to succeed in affiliate business. In this country, you have no right to ask anyone for their rights. As the evidence shows, literature, art and music are very important and should be respected in Armenia. Keep in mind that you are never allowed to disrespect anyone's religion in Armenia.

As the evidence shows, the culture of the people of Armenia changes periodically and has certain categories. In this country, you have no right to harass women, you will definitely be dealt with.

World ranking in all fields of Armenia

Armenia's ranking in the world is upwards in property purchase and construction
Armenia's ranking in the world is upwards in property purchase and construction

Armenia's ranking in the world in terms of property purchase and construction has been able to take precise steps upwards. Keep in mind that equipment and food in this country is in normal condition and has been able to grow well in the world. Chemicals and machinery, rubber, clothing as well as the defense industry are among the most important sectors in the country.

Armenia's agriculture ranks well in the world, as evidenced by the fact that Armenian banks have also been able to achieve a good ranking in the world. As the evidence shows, Armenia is a powerful country in terms of economic resources in the world. It is worth noting that the international monetary funds in this country have reached good ratings and it has been determined that the economic system of Armenia is in a precise and correct atmosphere.

Armenia's economic ranking in the field of healthcare is in a normal state, and as it has been determined, the health status in Armenia is routinely determined. Armenia is a powerful country in terms of industry and income and can include the simplest system.

The education system in this country has grown well and in recent years it has been seen that the universities of this country operate routinely and valuably in the financial fields, as it has been shown in recent years that the focus of the Armenian government on education systems is seen constantly. The country has a high concentration of industry and income.

It is worth noting that Armenia has been able to provide the best conditions for the purchase and sale of products, thus the export and import rankings in Armenia have been precisely defined. Evidence shows that the Armenian government has been able to use the simplest political systems to achieve a normal economic situation. 

The country has also achieved a good ranking in the world in terms of company registration, so that the economic systems in the field of company registration in Armenia have been accurate and routine.

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