The country has gold mines and top quality jewelers. Jewelry exports, in terms if customs valuation, are at the top of the list when it comes to exports from Armenia.
According to the latest figures released by Armenia’s Central Bank, deposits in the country’s 21 commercial banks amounted to 1,711,299,000,000 AMD (US$ 354,7984,877) as of March 2015.
Cigarette production in Armenia is taking off. According to the National Statistical Service, 2,891,000 cigarettes were produced in Armenia in the first quarter of 2015 – up 28.4% over the same period last year.
Only two mining companies – Zangezour CopperMolybdenum Combinat (ZCMC) and Tegout - have made it to the top 20 list of taxpayers in Armenia for the 1st quarter of 2015.
Despite the fall in prices, molybdenum remains an important component of Armenia’s economy. In 2014 Makour Yerkat paid 2.271 billion AMD ($4.7 million) in taxes, and Armenian Molybdenum Production paid 906 million AMD ($1.9 million).
Armenia exported a record 3.6 tons of gold dust in 2014 with a customs value of US$ 82 million.
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