A 43.5% increase was shown by Armenia – Iranian trade in the first 10 months of 2022. According to Armenian Deputy Economy Minister Armen Arzumanyan, it rose from $390 million to around $560 million in the reporting period.
Good business cooperation between the countries was noted by Arzumanyan. He also added that it was necessary for its further development to identify all issues in order to step up economic activity.
The Minister mentioned the extensiveness of the Iranian market, but also a problem of its self-sufficiency. He expressed his confidence in a possibility to find out what they could do to export Armenian food, agricultural and other products to this market, which is by and large familiar with Armenian produce.
Armenia’s National Statistical Committee reports that trade turnover between Armenia and Iran in January-October 2022 reached about $565.5 million (a 45.3% increase). Armenian exports to IRI totaled about $92 million (an 82.4% increase year-on-year). A growth by 39.1% (to $474.3 million) was attained by imports from Iran.