Friday, December 2 2016 15:49
Karina Melikyan

Foreign trade turnover between Armenia and Russia has considerably grown

Foreign trade turnover between Armenia and Russia has considerably  grown

ArmInfo. In Jan-Oct 2016, the  foreign trade turnover between Armenia grew by 13.4% as compared to  Jan-Oct 2015 (versus 14.8% decline a year before) to $1.077 bln.   Russia's share retained leadership not only in Armenia's foreign  trade, but also in terms of export and import - $295.1 mln and $781.7  mln, respectively (up 52.8% and up 3.3%, respectively, versus Jan-Oct  205). 

According to the National Statistics Service of Armenia, China and  Germany retained the second and the third positions, respectively, in  the foreign trade turnover with Armenia. In particular, the  Armenia-China foreign trade turnover amounted to $363.5 mln (down  9.1% versus Jan-Oct 2015), and the Armenia- Germany foreign trade  turnover totaled $259 mln (down 7.4% versus Jan-Oct 2015). Armenian  exports to China dropped by 45.1% (versus 9.9% rise a year before) to  $79.6 mln, while imports from China grew by 11.4% (versus 25.9%  decline a year before) to $283.9 mln. Exports to Germany fell by 6.4%  (versus 8.1% decline a year before) to $109.3 mln, while imports  dropped by 8% (versus 30.9% decline a year before) to $149.7 mln. 

Georgia and Iran were the fourth and fifth with $206.9 mln and $198.9  mln, respectively (32.1% growth and 14% decline, respectively, versus  Jan-Oct 2015). Exports to Georgia totaled $122.7 mln, while imports  from Georgia amounted to $84.2 mln (up 22.8-48.7% versus Jan-Oct  2015). Exports to Iran amounted to $65 mln and imports amounted to  $133.9 mln (down 3.8-18.2% versus Jan-Oct 2015).

Bulgaria ($125.2 mln, 2-fold growth versus Jan-Oct 2015) and Georgia  held the second and third positions after Russia in terms of exports,  while Chine and Germany were the second and the third in terms of  imports. 

In Jan-Oct 2016, the main buyers of Armenian goods were Russia -  20.3%, Bulgaria - 8.6%, Georgia - 8.4%, Iraq - 8.1%, Canada - 7.9%,  Germany - 7.5%, China - 5.5%, and Iran - 4.5%. The main suppliers to  Armenia were Russia - 28.9%, China - 9.7%, Iran and Germany - 6.2%  each, Italy - 4.5%, Turkey - 4.2%, Ukraine - 3.9%, the US - 3.4%,  Georgia and Brazil - 2.2% each, and France - 2.1%. Imports from Iraq  tangibly declined - by 92.7%, while exports to Japan and Spain fell  by 91.2-92.9%.

Total foreign trade turnover of Armenia grew by 6.1% as compared to  Jan-Oct 2015 and amounted to 1952.3 bln AMD ($4067 mln). Exports rose  by 19.8% to 697.8 bln AMD ($1453.7 mln), while imports dropped by  0.3% to 1254.5 bln AMD ($2613.3 mln). Export dynamics improvement  reduced the unfavorable balance of trade by 22.3% to 556.7 bln AMD  ($1159.6 mln). In Jan-Oct 2016, the economic activity of Armenia  slackened growth to 0.4% from 3.5% in Jan-Oct 2015. 

The average AMD/USD exchange rate made up 480.45 AMD/$1 in Jan-Oct  2016 versus 477.19 AMD/$1 in Jan-Oct 2015, and 410.70 AMD/$1 in  Jan-Oct 2014.

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