Wednesday, August 31 2011 14:27
Armenia's negative foreign trade balance amounts to $1.486bln
ArmInfo. In Jan-July 2011 Armenia's negative foreign trade balance amounted to $1.486bln or 550.6bln AMD (0.4% more than a year before).
According to the National Statistical Service of Armenia, in Jan-July 2011 in FOB prices the foreign trade balance totalled $2.905bln or 1.075bln AMD: $603.3mln ($709.6mln in FOB prices) or 262.6bln AMD in exports and $2.196.3 or 813.2bln AMD (in CIF prices).
In July 2011 Armenia's foreign trade turnover totalled $408mln or 149.9bln AMD - 7.5% less than in June 2011 and 3.5% more than in July 2010. The exports dropped by 8.1% and grew by 33%, respectively, to $106.3 mln or 39bln AMD, the imports dropped by 7.3% and 4%, respectively, to $301.7mln or 110.9bln AMD.
In Jan-July 2011 the trade with the EU made up $981.5mln (33.8% of the total foreign trade) - 21.1% more than in Jan-July 2010. The negative trade balance with the EU grew by 15% to $282mln: $350mln in exports against $631.5mln in imports.
The trade with the CIS and other foreign countries totalled $1.149bln - 10.2% more than a year before. The negative trade balance with those countries dropped by 5.4% to $660mln. The trade with the CIS alone grew by 9.6% to $775.2mln with the negative trade balance growing by 1.3% to $545.6mln: $114.8mln in exports (36.3% annual growth) against $660.4mln in imports (6% growth).
In Jan-July 2011 the key buyers of Armenian products were Bulgaria (14.3% of the total exports), Germany (14%), Russia (13.3%), the Netherlands (9.4%), Iran (9.5%), the United States (8.4%), Spain (5%), Belgium (4.9%), Canada and Georgia (4.3% each), while the key suppliers of imported goods to Armenia were Russia (21.5% of the total), China (9.2%), Ukraine (6.1%), Germany (5.9%), Turkey (5.4%), Iran (5%) and Italy (4.5%).
Expert: Electricity tariff containment in Armenia is only temporary
Political Scientist: Armenia`s withdrawal from Eurasian Economic Union (EAEU) to result in its dependence on Azerbaijani and Turkish markets
Artur Avetisyan: All discussions regarding the choice of a future NPP model will remain mere talk until there is a vision for strategic development
ATI.SU: Demand for international cargo transportation 30% up in Armenia
Civil Contract nominates Armen Ktoyan for Central Bank Board Member position
Armenia, France considering prospects for expanding technological cooperation 
Over 99.9% of wheat imported to Armenia comes from Russia