Eurasian chemical market

The Review of the Chemical Industry of Armenia

     Armenia has enormous industrial potential; yet its current geopolitical environment leaves much to be desired, in fact the country has found itself aside the main world trade flows. On the other hand, for the last decade the national economy as a whole has been relatively stable. After the USSR collapse the industry of Armenia faced a number of challenges: production output decreased by 60%. But the nation managed to recapture its lost capacities by taking drastic measures. Currently, the revitalised industry generates 57% of total GDP and 30% of tax revenues. Armenia is developing trade relations with the CIS and EU countries accounting for 28.4% and 39.9% of foreign trade turnover respectively. During January-August 2007, the chemical output of the country totalled USD 30.5m. Chemical manufacturing company Vanadzor-Khimprom CJSC still stays first among equals in the Armenian chemical industry. Our article “Chemistry Wrapped in Armenian Lavash” gives further details about the chemical industry of this unique country.

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