Armenian Economy Minister Gevorg Papoyan attributed weaker trade with the UAE to the absence this year of previous transactions involving Russian gold. He spoke in parliament on 28 October, Armenpress reported.
The minister said shipments of Armenian-origin goods to the UAE had risen 48%. That figure concerns locally originating products and should not be read as growth in total exports or bilateral turnover.
His explanation highlights the influence of re-export flows on headline trade figures. Changes in those flows can move the aggregate sharply even when sales by domestic producers develop differently.
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