Armenia gold exports tumbles in H1
In the first half of 2018, Armenia exported 2325.1 kg of gold, including electroplating, against 2242.2 kg of gold a year earlier. According to the report of the Customs Service of the Republic of Armenia, in fact, in terms of weight, gold exports slowed down to 3.7% from 53% a year earlier.
In the first half of 2018, the customs value of exported gold increased by 8.7% to $ 82.2 million, up from 42.7% growth a year earlier.
A similar trend is recorded for gold imports - in the first half of the year 2018 - volume growth slowed to 38.9%, reaching 947.4 kg, with growth of customs value by 49.3% - up to $ 40.3 million. As a comparison note that in the first half of 2017 imported gold increased in weight terms by 5.7 times, adequately what the customs cost increased by 5.6 times.
During the reporting period, Armenia exported gold almost in full (97%) to Switzerland. Imports also accounted for mainly Switzerland (72.2%), and to a lesser extent in the UAE (25.8%) and the Russian Federation (0.4%).