One of the emerging sectors of the Armenian economy belongs to the textile industry.
Export of textile and leather grew 2.7 times in 2017 compared
It has an access to a consumer market with more than 1.5 billion people with 0% or reduced customs duties. Some of the export opportunities of this sector are that the majority of EAEU countries are textile importers, the competitive labor cost of $1.98/hour, low electricity prices of 8 US cent/kWh and high-quality standards: 42.5% of Armenian textile & apparel are exported to EU Export of high-quality well-designed production.
Textile, leather & shoe export grew 6 times in the last 6 years (2012-2017)
textile is also one of the oldest industries in Armenia 113 textile & apparel companies, 84 leather & shoe companies