Monday, December 4 2017 18:00
Alina Hovhannisyan

Foreign trade turnover between Armenia and Russia accelerated the rate of annual growth from 13.4% to 24.1%

ArmInfo. The annual dynamics of the foreign trade turnover between Armenia and Russia in January-October 2017 accelerated the growth rate to 24.1% from last year's 13.4%, exceeding $ 1.337 billion. Russia retains the primacy not only in this indicator, but also in exports and imports - $ 428.1 million and $ 908.6 million, respectively, with the acceleration of growth in imports from 3.3% to 16.8% with a slowdown in export growth from 52.8% to 43%.

According to Armenian National Statistics data, the second position on foreign trade turnover with Armenia continues to be occupied by China, which led the annual dynamics from last year's 9.1% decline to the current 31.2% growth, with a volume of $ 475.8 million. In particular, the volume of exports of Armenian goods to China increased by 19.8% (against the decline of 45.1% a year ago) to $ 95.4 million with an increase in imports of 34.5% (against growth of 11.4% a year ago) to $ 381.4 million (second position is held).

The third position on foreign trade turnover with Armenia is taken by Switzerland, with an annual growth of 3.3 times (against 28% growth a year earlier) to $ 275.3 million. In particular, the volume of export of Armenian goods to Switzerland increased 3.6 times (against growth by 77.1% year-on-year) to $ 209.3 million (3rd position) with an increase in imports of 97.9% (against a decline of 13.7% a year earlier) to $ 65.98 million.

The fourth and fifth positions on foreign trade turnover with Armenia are occupied by Germany and Bulgaria - $ 261.4 million and $ 256.1 million, respectively. Moreover, the annual dynamics of foreign trade turnover between Armenia and Germany emerged from last year's 7.4% decline for the current 1% growth, and between Armenia and Bulgaria the growth rate slowed from 88.5% to 64%. In particular, the volume of exports of Armenian goods to Germany was $ 104.9 million (annual decline of 4%) with imports of $ 156.5 million (annual growth of 4.7%), and Bulgaria - respectively $ 225.9 million (annual growth of 80.4% ) and $ 30.2 million (annual decline of 2.5%).  By volume of exports in January-October this year. after Russia, the second and third positions are occupied by Bulgaria and Switzerland, and China and Turkey follow Russia's imports.

The main buyers of Armenian goods in January-October 2017 were Russia - 24.5% in exports, Bulgaria - 12.9%, Switzerland - 12%, Georgia - 7%, Germany - 6%, China - 5.5% Iraq - 4.9%, the United Arab Emirates - 4.4%, the Netherlands - 4% and Iran - 3.8%. The main suppliers of imported products to Armenia were Russia - 29.8% in total imports, China - 10.9%, Germany - 5.7%, Iran - 5.1%, Turkey - 4.8%, Italy - 4% , Georgia - 3,2% and Ukraine - 3,1%. Most impressive annual decline in the volume of imports and exports recorded between Armenia and Romania - by 48.1% and 99.7% respectively.

Among the dominant items of Armenian exports, annual growth was recorded in finished food products - by 23.2% to $ 407.7 million, to mineral products - by 39.8% to $ 540.7 million, to base metals and products from them - by 22.7% to $ 217.9 mln , textile products - by 38% to $ 106.5 million, with the decline of precious and semiprecious stones and products - by 22.2% to $ 223.7 million, of plant products - by 39.2% to $ 36.2 million. On the same imports from the main articles the decline was recorded only for finished food products - by 0.4% to $ 273.3 million, against which the rest of the dominant articles of imports increased: mineral raw materials - by 10.9% to $ 504.9 million, vehicles - by 49.2% to $ 189.3 million, precious metals and articles thereof - by 45.3% to $ 182.7 million, base metals and products from of them - by 32.9% to $ 237.9 million, machines / equipment / machinery - by 30.1% to $ 477.9 million, textile products - by 15.5% to $ 211.9 million. Chemical products in both exports and imports showed growth - by 62.3% and 27%, respectively, to $ 22.6 million and $ 343.7 million.

In total, Armenia's foreign trade turnover in January-October 2017 increased by 22.4% per annum, amounting to 2,400.6 billion AMD ($ 4,979.8 million). This upward trend was provided by an increase in exports of 19.4% to 841.4 billion AMD ($ 1,745.4 million), against the background of an increase in imports by 24% to 1559.2 billion AMD ($ 3234.4 million). The slowdown in export growth rates (from 19.8% a year earlier), with a sharp drop in imports from last year's 0.3% decline to growth, a higher export rate, increased the foreign trade deficit in January-October 2017 by 28.4% per annum to $ 1489 million. Armenia's economic activity in January-October 2017 accelerated the annual growth rate to 7.1%, with an almost stagnating 0.4% in the same period in 2016.  The average calculated exchange rate of AMD was 480.74 AMD / $ in October 2017, and 482.41 AMD / $ 1 in January-October, compared to 475.25 AMD / $ 1 in October 2016 and 480.45 AMD / $ 1 in January - October 2016.

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