Monday, December 3 2018 13:48

ArmInfo.In January-October 2018, the y-o-y growth of foreign trade turnover between Armenia and Russia slowed down to 14.9% from last year's 24.1% and totaled $ 1.6 billion. This was caused by a slowdown in exports from 43% to 21.3% and imports from 16, 8% to 11.7%, the volumes of which amounted to $  549.1 million and $ 1.02 billion respectively. According to the RA  Statistical Committee, Russia retains leadership in the  abovementioned three figures with a significant margin.

Russia is followed by China, Switzerland, Germany and Iran in TOP-5  in terms of foreign trade turnover with Armenia - $ 638.7 million, $  375.8 million, $ 370.04 million and $ 296.8 million, respectively. Of  them, the largest increase was recorded by Germany - by 41.6%, and  the smallest by China - by 34.3%.

As for TOP-5in exports, Russia is followed by Switzerland, Bulgaria,  Germany and Iraq  - $ 261.8 million, $ 192.9 million, $ 127 million  and $ 117.1 million, respectively. Of them, the y-o-y decline was  recorded only in Bulgaria - by 17.1%, and Iraq registered the most  significant growth - by 33.2%. In the TOP-5 imports China, Germany,  Iran and Turkey - $ 552.8 million, $ 243.1 million, $ 212.5 million  and $ 201.7 million, follow Russia respectively. Germany has recorded  the largest increase - 57.7%, and Turkey the smallest - 14.3%.

In total, the largest decline in the structure of exports continues  to be recorded by Thailand - by 92% per annum (January-October 2018  to the same period of 2017), in parallel with which imports decreased  from this country by 6.8%. The largest decline in imports is  registered to Canada - 65.5% with export to this country changing the  trend from 89.9% drop to 2-fold growth. Romania and Brazil registered  the largest growth in exports-15.5-11.9-fold, and Iraq -17.8-fold.

The volume of foreign trade of Armenia with the countries of the EAEU  grew in 10 months of 2018 by 15% per annum - to $ 1.6 billion, and  with the EU countries - by 25.8% to $ 1.5 billion. Moreover, the  export of Armenian goods to the EAEU countries increased by 22.6% to  $ 567.9 million, while imports grew by 11.3% to $ 1.05 billion, while  with EU countries import growth prevailed over export rates - 33.5%  against 15.6% - up to respectively $ 928.4 million and $ 602.3  million. Among the EAEU countries by foreign trade turnover Belarus  follows Russia - $ 41.2 million (y-o-y growth of 14.5%), Kazakhstan -  $ 10.5 million (growth of 55.3%) and Kyrgyzstan - $ 896.2 thousand  (decline of 29.5%). Exports of Armenian goods to Belarus increased by  89.8%, while imports grew only by 1.3% , significant increase in  exports of goods to Kazakhstan (2-fold) was accompanied by a drop in  imports by 9%. In the direction of Kyrgyzstan, there was an increase  in imports by 13.3 -fold with a drop in exports by 45.8%.

According to statistical data, in total, Armenia's foreign trade  turnover slowed down in January-October 2018 to 20.7% from last  year's 22.4%, making $ 6.02 billion, in particular, export growth  slowed down from 19.4% to 11.7%, making $ 2 billion, while import  growth, on the contrary, accelerated from 24% to 25.8%, reaching $  4.02 billion. The main buyers of Armenian goods in January-October  2018 were Russia - 27.4% in exports, Switzerland - 13.1%, Bulgaria -  9.6%, Germany - 6.3% and Iraq - 5.8%. The main suppliers of imported  products to Armenia were Russia - 25.3% in total imports, China -  13.8%, Germany - 6%, Iran - 5.3% and Turkey - 5%.  Among the dominant  export items, growth was recorded in mineral raw materials - by 1.7%  to $ 554.6 million, finished food products - by 6.4% to $ 433.9  million, non-precious metals and products from them - by 19.2% to $  257.6 million, precious metals and products from them - by 8.8% to $  249.3 million, textile products - by 75.2% to $ 199.3 million. In  import, the same segments recorded the dominant volumes:  mineral raw  materials - $ 588.8 million (an increase of 16.4 %), chemical  products - $ 320.4 million (a decline of 5.1%), finished food  products - $ 302.7 million (an increase of 16.4%), non-precious  metals and metal products - $ 281.4 million (an increase of 17.8%),  textile products - $ 272 million (an increase of 28.5%), precious and  semiprecious stones and products - $ 234 million (an increase of  28.4%), imports of machinery and equipment heads the list - $ 749.9  million (an increase of 59.6%).

To note, economic activity in Armenia for 10 months of 2018 slowed  down the growth rate from 7% to 6% per annum. According to the  updated forecast of the Central Bank of Armenia, GDP in Armenia in  2018 is expected to be in the range of 4.6-5.1%, exports - 3-5% and  imports - 9-11%. According to a new forecast of the World Bank, GDP  growth in Armenia in 2018 will be 5.3%, exports - 9.1% and imports -  16.9%.