Armenia, country, Asia: Economy

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Encyclopedia—Armenia, country, Asia

Economy

Agriculture holds a significant place in Armenia's economy, employing almost half of its population. Wine grapes, citrus fruits, vegetables, and livestock are the main agricultural products; fishing is also important. Armenia has deposits of copper, gold, molybdenum, bauxite, and zinc, which provide the basis for a chemical industry. Salts and other minerals have enabled health resorts to thrive. Diamond processing, nonferrous metallurgy, microelectronics, food processing, and the manufacture of electrical equipment, machinery, textiles, and the famous Armenian brandies and wines are also among the republic's industries. The annual value of Armenia's imports is much greater than that of its exports. The main trading partners are Russia, Germany, Belgium, the United States, and Israel.

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