Monday, May 2 2011 14:56
Armenia's foreign trade turnover up 18.1% in Mar 2011
ArmInfo. In Mar 2011 the foreign trade turnover of Armenia grew by 18.1% to $430.3 mln, or 158.5 bln AMD (14.1% annual growth). According to the National Statistical Service of Armenia, in Mar 2011 export grew by 2.5% (21.8% annual growth) to $92.2 mln, or 34 bln AMD. Import rose by 23.2% (12.2% annual growth) to $92.2 mln or 124.5 bln AMD. In Jan-Mar 2011 the foreign trade turnover of Armenia made up $1118.4 mln (10.1% annual growth), particularly, export amounted to $248.5 mln (25.2% annual growth), and import made up $869.9 mln (6.4% annual growth).
Russia remains the leader by its share in Armenia's foreign trade turnover. In Jan-Mar 2011 Russia's share made up 21.8% or $243.5 mln, which was 10.8% more than in 2010. In particular, export grew by 41.9% to $37 mln, import grew by 6.6% to $206.5 mln. Armenia's unfavorable balance of trade with Russia annually rose by 1.1% to $169.5 mln.
Germany ranks next with 8.1%, or $91 mln (21.6% annual growth). Export annually grew by 2.5% to $37.7 mln, and import rose by 40% to $53.3 mln. In Jan-Mar 2011 the unfavorable balance of trade with Germany amounted to $15.6 mln with a considerable annual growth - 13fold. Armenia exports iron, steel, copper, as well as various ores to Germany and imports mostly electric appliances and products of the machine building sector.
China holds the third position. Its share in the foreign turnover of Armenia grew to 7.3% over the last years. In absolute terms the commodity turnover with Chine fell 14.4% for Jan-Mar 2011 versus the same period of 2010 to $81.6 mln. Export annually dropped by 66% to $2.6 mln, and import - by 9.9% to $79 mln. The unfavorable balance of trade with China made up $76.4 mln (almost twofold annual growth).
Bulgaria holds the fourth place with 5.6% or $62.6 mln (10.4% annual growth). The favorable balance of trade with Bulgaria grew almost twofold as compared with Jan-Mar 2010 and amounted to $24.5 mln. Export to the Bulgaria made up $43.5 mln (24.9% annual growth), and import - $19.1 mln (12.7% annual growth).
USA occupies the fifth position with 5.1% or $57 mln (26.4% annual decline). Export to USA annually grew 24.5% to $22.1 mln, and import - by 27.6% to $34.9 mln. As a result, the unfavorable balance of trade with USA amounted to $12.8 mln in Jan-Mar 2011, having grown by 33.3% as compared with Jan-Mar 2010.
Ukraine ranks the sixth with 4.5% or $49.9 mln (2.8% annual decline). The unfavorable balance of trade with Ukraine totaled $47.3 mln with an annual growth of 7.3%. In particular, import from Ukraine grew 1.9% and export fell 64%.
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