Thursday, June 30 2011 17:01
In Jan-May 2011 unfavorable balance of Armenia's foreign trade turnover totals $1055.3 mln
ArmInfo. In Jan-May 2011 the unfavorable balance of trade of Armenia totaled $1055.3 mln or 390.1 bln AMD.
According to the National Statistical Service of Armenia, the foreign trade balance, with export and import calculated at FOB (Free on Board) prices, amounted to $760.7 mln (2057.6 bln AMD) in Jan-May 2011. Export totaled $487.7 mln or 180.3 bln AMD (at FOB prices), and import - $1569.9 mln or 580.4 bln AMD (at CIF prices). According to preliminary data, in Jan-May 2011 the foreign trade balance (at FOB prices) was negative $840.5 mln.
At the same time, in May 2011 Armenia's foreign trade turnover amounted to $474.7 mln (177.2 bln AMD), having increased by 5.6% as compared with April, and by 23% as compared with May 2010.
Over Jan-May 2011 the commodity turnover with EU countries made up $681.5 mln (33.1% of total foreign trade), having annually increased by 20.4%. The unfavorable balance with EU countries annually increased by 10.8% to $188.7 mln. In Jan-May 2011 commodities worth $246.4 mln were exported to EU countries, and commodities worth $435.1 mln were imported to Armenia. The commodity turnover with non-CIS states amounted to $795.5 mln (14.2% annual growth).
The unfavorable balance with non-CIS states annually increased by 0.3% to $475 mln. The foreign trade turnover with CIS states grew by 15% to $580.6 mln in Jan-May 2011 as compared with Jan-May 2010, and the unfavorable balance of trade increased by 10.8% to $419 mln. In Jan-May 2011 exports to CIS countries from Armenia totaled $80.9 mln, having increased by 27.8% as compared with Jan-May 2010, and imports from CIS countries to Armenia totaled $499.8 mln, having annually increased by 13.2%.
The main buyers of Armenian commodities in Jan-May 2011 were Bulgaria (15.3% of total export), Germany (15%), Russia (13.5%), the Netherlands (9.7%), the USA (8.7%), Iran (8.2%), Canada (4.4%), Georgia (3.8%), and Belgium (3.7%). The main suppliers of commodities to Armenia were Russia (22.9% of total import), China (9.2%), Ukraine (6.3%), Germany (5.8%), Turkey (5.1%), Iran (4.5%), and Italy (4%).
In the total volume of export annual growth was fixed for many commodities. For instance, the export of finished food products annu8ally increased by 40.7% to $57.7 mln, ore products - by 55.1% to $162 mln. At the same time, the biggest volume of export fell on basic metals and articles made of basic metals - $160 mln (25.4% annual growth). Export of chemical industry products annually increased by 20.8% to $4.8 mln. In the structure of import considerable growth was fixed for vegetable origin products - by 49.9%.
