Friday, October 6 2017 09:43
Karine Melikyan

Foreign trade turnover between Armenia and Russia increased in January-August 2017 by 23.5% per annum due to the growth of exports by 36.6% and imports by 18.3%

Foreign trade turnover between Armenia and Russia increased in  January-August 2017 by 23.5% per annum due to the growth of exports  by 36.6% and imports by 18.3%

ArmInfo. The foreign trade  turnover between Armenia and Russia grew by 23.5% per annum in  January-August 2017 - to $ 991.8 million. This was caused by an  increase in exports by 36.6% to $ 310 million and imports by 18.3% to  $ 681.8 million. According to the National Statistical Service of the  Republic of Armenia, on these three indicators Russia holds the  championship with a large margin.

According to the statistical data, in total, Armenia's foreign trade  grew by 24.4% to $ 3.9 billion in January- August 2017, including  exports - by 21.7% to $ 1.4 billion, and imports - by 26% to $ 2.5  billion. After Russia in TOP -5 China, Switzerland, Bulgaria and  Germany, respectively, $ 360.9 million, $ 226.5 million, $ 208.3  million and $ 206.1 million, respectively, with China, Switzerland,  3.1 times, and Germany the smallest in terms of foreign trade  turnover- by 1.9% (with the exit from the recession).

Bulgaria, Switzerland, Georgia and Germany, respectively, exported $  185.7 million, $ 169.98 million, $ 101.4 million and $ 85.9 million,  respectively, to Bulgaria's exports to TOP-5. Of these, the annual  decline was fixed only in Germany, by 1.1%, and Switzerland - 3.5  times. China, Turkey, Germany and Iran, respectively, posted $ 293.4  million, $ 141.4 million, $ 120.2 million and $ 118.7 million  respectively for imports in the TOP-5. Of these, the largest growth  was recorded in Turkey - by 60.9%, and the lowest in Germany - by  4.2%.

In total, the largest decline in the structure of exports continues  to be recorded in Canada - by 88.6% per annum (January-August 2017 to  the same period in 2016), in parallel with which imports from there  jumped 13.3 times, and in imports, the largest decline is in Romania  - by 54.2%, with a more significant drop in exports in this direction  - by 79.2%. Moreover, Romania is also leading in the decline of  foreign trade turnover - by 68.6%.

The main buyers of Armenian goods in January-August 2017 were Russia  - 22.4% in exports, Bulgaria - 13.4%, Switzerland - 12.3%, Georgia  7.3%, Germany 6.2%. The main suppliers of imported products to  Armenia were Russia - 27.3% in total imports, China - 11.7%, Turkey -  5.7%, Germany and Iran - 4.8% each.

Among the dominant items of Armenian exports, annual growth was  recorded in mineral raw materials - by 43.1% to $ 430.4 million,  finished food products - by 32.1% to $ 320.8 million, to base metals  and products from them - by 28.9% to $ 179.8 million, textile  products - by 36.6% to $ 87.4 million, with a decline in the export  of precious and semiprecious stones and products - by 20.3% to $  188.5 million, plant products - by 36.9% to $ 27.9 million  dominant  volumes recorded the same segments: mineral raw materials - $ 396  million (an increase of 11.1%), chemical products - $ 2 88.1 million  (an increase of 37.3%), finished food products - $ 219.3 million (an  increase of 4%), base metals and metal products - $ 178.3 million (an  increase of 30.6%), textile products - $ 164.8 million. (an increase  of 24.2%), precious and semiprecious stones and products - $ 149.7  million (an increase of 54.7%).

To note, the economic activity in Armenia in January-August 2017  accelerated annual growth rates from 2.4% to 5.5%. 

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