February 4, 2017
The Armenian National Statistical Service has published the macroeconomic data for the period of January-December 2016, reporting 20% growth as compared to 2015. The export totaled $1,783 billion against $1,485 billion in 2015. The import amounted to about $3,292 billion against $3,239 in 2015 (1,6% growth).
Past year’s achievements and failures
January 10, 2017
PanARMENIAN.Net presents the most important economic developments of the year 2016.
Armenian tax inspectors 4 times ‘lazier’ than Georgian counterparts
November 15, 2016
There has been a lot of talk recently about unnecessary staff members in some state institutions. To make things clear, PAN decided to compare the number of tax inspectors operating in Armenia and Georgia and their responsibilities.
Smartphones instead of food and clothes
October 4, 2016
According to statistical data, despite the decline of Armenian retail business in the first half of 2016, the sales of smartphones, refrigerators, TVs and other equipment has grown.
Armenian cigarettes gaining popularity
May 27, 2016
Torn by wars and terrorism, Iraq was not an attractive market for Armenian businesses just several years ago. Nevertheless, the successful activity of Armenian cigarette exporters made the country their Number 2 destination, following Russia.
Grigoryan doesn’t have permanent employees but hires up to ten people when extra help is needed once or twice a month.
June 16, 2014
Bardzrashen was named for its location: the village in the Ararat province of Armenia is situated high on a hill, with a long curving road leading to it. Like many other villagers, Karen Grigoryan is a farmer - he has greenhouses to grow vegetables and flowers. To improve the quality of the crop and reduce the weather risk, he recently built a new heating system in his glassed greenhouse where he usually grows pinks.
“Not a fan of drastic changes, I didn’t risk a new kind of business and just continued with what I could do the best,” Melkonyan says.
June 13, 2014
Samvel Melkonyan, the head of S Kahuyq LLC has been engaged in furniture business since the Soviet times. Currently, he runs his own furniture shop in Yerevan, the capital of Armenia.
The couple breeds cattle, pigs, hens and ducks, and at the first sight taking care of the whole livestock farm seems quite impossible.
June 11, 2014
Alla Davtyan, her husband Mikael Hovhannisyan and their little daughter moved to Masis village located near the town of Artashat in Ararat province of Armenia several years ago. They settled in a small construction next to an abandoned farm, the owner of which let them live and work there, and purchased a cow, marking the beginning of a new life.
With the business advancing, Asoyan doesn’t rule out taking another loan for opening a new shop to sell shoes for men.
June 6, 2014
Edgar & Karen LLC, which was registered back in 2007, now operates Planet of Clothes chain of shops selling affordable clothing in Yerevan, the capital of Armenia, and in the nearby town of Abovyan. The head of the firm, Karen Asoyan, personally runs the business, importing goods from China, Turkey and Dubai.
“All you see around is the result of our family efforts. We work hard day and night and the outcome is pleasing,” Shmavonyan says.
May 30, 2014
Hamlet Shmavonyan, a resident of Aratavan village in Ararat province of Armenia, believes that all problems are solvable, once people do their job. With the latest $2500 loan from ACBA-Credit Agricole Bank, he bought a land adjacent to his house, where he already built a pigsty, as well as two greenhouses to grow pinks, tulips and chrysanthemums. He also purchased fuelwood he uses to heat the greenhouses in winter.