Significant Decline in the Armenian Tobacco Market

The newspaper "Hayots Ashkharh" reports that a significant decline has been recorded in the Armenian tobacco market. The reason for this downturn is attributed to Covid-19, which has caused substantial financial damage to various sectors of the economy in Armenia due to the pandemic.

According to the report, tobacco production volumes have decreased by 15.8% in the first eight months of this year. From January to August of this year, 14.6 billion cigarettes were produced, compared to 17.4 billion in the same period last year.

Meanwhile, there has been a reduction not only in the export of Armenian tobacco but also in the taxes paid by tobacco producers. Despite this decline, tobacco production was one of the rapidly developing sectors in the industry according to data from recent years. Experts note that prior to the spread of Covid, the volume of tobacco exports was also increasing, but since last year, export volumes have also dropped.

For more details, refer to today’s newspaper edition.