In Jan-Jul 2016 foreign trade turnover between Armenia and Russia grew by 10% versus 14% decline last year

ArmInfo. In Jan-Jul 2016 foreign trade turnover between Armenia and its main trade partner Russia grew by 10% versus 14% decline last year. The trade between the two countries amounted $684.6 mln for the reported period,  $196.6 mln of it accounted for export of Armenian goods to Russia (71.8% growth) and $488mln (3.9% decline) for import of Russian goods.

According to the National Statistical Service of Armenia China and Germany hold the second and third positions in trade turnover with Armenia, which unlike Russia demonstrate downward trend. Particularly, trade turnover between Armenia and China totaled $ 218.8 mln with acceleration of y-o-y decline to 19.2% versus 12.1% last year, and $178.8 mln with Germany with slackening of decline to 5.2% versus last year's 26.2%. Thus, export of Armenian goods to China dropped by 57.2% (versus 30.2% growth last year) amid growth of import by 5.3% (versus 27.3% decline in previous year) to $173.5 mln (the second place), while export to Germany dropped by 1.6% (versus 10.6% drop in previous year) amid drop of import by 7.7% (versus 34.9% decline in previous year) to $100.8 mln (the third position). Georgia and Iran hold the fourth and fifth positions in trade turnover with Armenia-$ 148 mln and $137 mln respectively with 52.5% y-o-y growth and 12.1% y-o-y decline respectively. Particularly, export of Armenian goods to Georgia totaled $ 86.03 mln amid import amounted to $ 62 mln (49.5-56.7% y-o-y growth) and to Iran-$ 42.02 mln and $95 mln respectively (9-13.4% y-o- y decline).

In Jan-July 2016 Bulgaria ($ 91.6 mln with 2.1-fold y-o-y growth) and Georgia are the second and the third by amounts of export following Russia, while by amounts of import Russia is followed by China and Germany.

In Jan-July 2016 the main purchasers of Armenian goods were Russia-20.3% in export, Bulgary-9.5%, Georgia-8.9%, Germany-8.1%, Iraq-7.6%, Canada-7.1%, China-4.7% and Iran-4.3%. The main suppliers of import products to Armenia were Russia-28.7% in total import, China-9.3%, Germany and Iran-6.2% each, Italy-4.8%, Turkey-4.2%, Ukraine-4%, USA-3.4%, Georgia and France-2.1-2.2%. Import from Iraq dropped most significantly-by 83.5%, while the most significant decline was registered in directions to Japan and Spain-by 93.3-95.3%.

Among the dominating items of Armenian export y-o-y growth was registered in export of final food products-by 27.2% to $206.6mln, precious and semi precious stones and handiworks-by 78.7% to $204.6 mln, textile products-by 76.3% to $54 mln, with 15.1% decline of non precious metals and handicrafts to $119.8 mln and mineral raw materials-by 7.4% to $258.1 mln. Decline was registered in import of mineral raw materials-by 10.1% to $308.1 mln, transport means-by 23.4% to $81.2 mln, non precious metals and handicrafts-23.8% to $ 115.9mln, at the background of which the other main items of import demonstrated growth-chemical products-by 7.5% to $182.1mln, machines/equipment/techniques- by 4% to $234.6mln, final food products-by 14.6% to $ 183.1 mln, textile-19.1% to $109 mln, precious metals and handicrafts-by 31.8% to $82.2 mln.

In overall in Jan-Jul 2016, the foreign trade turnover of Armenia totaled 1283.3 bln AMD ($2658.8 mln), with a 2.3% growth versus Jan-Jul 2015.  Exports grew by 16.5% y-o-y to 467.5bln AMD ($969mln), and imports dropped by 4.4% to 815.8bln AMD ($1689.8 mln). Credit balance of Armenia's foreign trade dropped in Jan-Jul 2016 by 19% y-o-y to 348.3 bln AMD ($ 720.8mln). In July 2016 alone, the credit balance of foreign trade turnover fell by 19.2% totaling 38.6 bln AMD ($ 81 mln). In July 2016 alone, foreign trade turnover fell by 7.1%, with exports and imports falling by 3.3% and 9.5%, respectively. As compared to July 2015, the foreign trade turnover fell by 1.3% due to 9% drop in imports and 13.2% growth in exports. Economic activity in Armenia increased by 3% y-o-y I Jan-Jul 2016.  In July 2016 versus  July 2015, the economic activity fell 4.3%, but grew 2.5% for July 2016 alone.  

To recall, in Jan-Jul 2015, the foreign trade turnover of Armenia declined by 24% (20.8% drop in July alone) due to drop of import and export by 30.7% and 4.4% respectively (in July alone import dropped by 18.4% amid drop of export by 25%). Economic activity in Armenia increased by 4.2% in Jan-Jul 2015 versus the same period of 2014.  In July 2015 versus July 2014, the economic activity grew 4%, and in July 2015 alone-by 9.2%. To note for comparison that in Jan-July 2014 foreign trade turnover of Armenia experienced 3.5% y-o-y growth, with export growing by 2.8% and import by 3.7%. In July 2014 alone trade turnover grew by 17.2% due to growth of import and export by 18.3% and 14% respectively. Economic activity in Jan- July 2014 increased by 4.1% y-o-y and in July alone by 19.2% (with 7.2% y- o-y growth).

In July 2016, the AMD/USD average exchange rate was 476.52 AMD/1USD, and in Jan- Jul 2016 - 482.81 AMD/1USD versus 477.33 AMD/1USD in July 2015 and 476.93 AMD/1USD in Jan-Jul 2015. In July 2014 exchange rate was 407.13 AMD/1 USD, in Jan-July 2014-411.25 AMD/$1.