Friday, February 2 2018 12:07
Karine Melikyan

Trade turnover between Armenia and Russia grew by 26.1% in 2017 due to export growth of 44.6% and import by 19.1%

Trade turnover between Armenia and Russia grew by 26.1% in 2017 due to export growth of 44.6% and import by 19.1%

ArmInfo. The annual dynamics of the trade turnover between Armenia and Russia in Jan-Dec 2017 accelerated the rate of annual growth to 26.1% (against 15.1% growth in 2016, exceeding $ 1.7 billion. Russia retains the primacy not only in this indicator, but also on exports and imports - $ 541.6 million and $ 1.2 billion, respectively, with the acceleration of growth in imports from 5.7% to 19.1% with a slowdown in export growth from 51.5% to 44.6%.

According to the National Statistical Service of Armenia, China continues to occupy the second position in foreign trade with Armenia, which led the annual dynamics from a 5.7% decline in 2016 to a 33.3% increase in 2017, with a volume of $ 604.5 million. In particular, the volume of exports of Armenian goods to China increased by 28.4% (against a decline of 41.7% a year earlier) to $ 123.8 million with an increase in imports of 34.6% (against growth of 13.2% a year earlier) to $ 480.7 million (the 2nd position is held).

The third position on foreign trade turnover with Armenia is taken by Switzerland with an annual growth of 3 times (against growth of 34.7% a year earlier) to $ 366.8 million. In particular, the volume of export of Armenian goods to Switzerland increased 3.6 times (against growth by 91.6% a year earlier) to $ 269.4 million (3rd position), while imports grew 2.1 times (against a decline of 8.2% a year earlier) to $ 97.4 million.

The fourth and fifth positions on foreign trade turnover with Armenia are occupied by Germany and Bulgaria - $ 339 million and $ 326.6 million, respectively. Moreover, the annual dynamics of foreign trade turnover between Armenia and Germany reached a 4.2% growth in 2017 from a 4.9% decline in 2016, and between Armenia and Bulgaria the growth rate slowed from 77.6% to 75.2% %. In particular, the volume of exports of Armenian goods to Germany amounted to $ 132.5 million (4.7% annual decline) with imports of $ 206.5 million (annual growth of 10.8%), and to Bulgaria - $ 286.2 million (annual growth of 87, 8%) and $ 40.4 million (annual growth of 18.9%).

By volume of exports in Jan-Oct 2018. 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 Jan-Dec 2017 were Russia - 24.1% in exports, Bulgaria - 12.8%, Switzerland - 12%, Georgia - 6.9%, Germany - 5.9%, China - 5,5%, Iraq - 5.4%, the United Arab Emirates - 4.6%, the Netherlands - 4% and Iran - 3.8%. The main suppliers of imported products to Armenia were Russia - 28% in total imports, China - 11.5%, Turkey - 5.5%, Germany - 4.9%, Iran - 4.3%, Italy - 3.9%, USA - 3,3%, Ukraine - 2,8% and the United Arab Emirates - 2,4%. The most impressive annual decline in import and export volumes was recorded between Armenia and Romania - by 37.6% and 86.7%, respectively.

Among the dominant items of Armenian exports, annual growth was recorded for mineral products - by 46.9% to $ 692.3 million, finished food products - by 27.5% to $ 531.3 million, to base metals and products from them - by 24.9% to $ 277.5 million, textile products - by 35% to $ 130.7 million, with the decline in precious and semiprecious stones and products - by 14.1% to $ 289.6 million, vegetable products - by 29.1% to $ 49.2 million. On the same imports from the main articles the decline was recorded only for works of art - by 65.1%, against which the rest of the dominant imports of goods grew: mineral raw materials - by 11% to $ 647.8 million, finished food products - by 14% to $ 378.2 million, vehicles - by 53.7% to $ 246.8 million, precious metals and articles thereof - by 47.1% to $ 237.6 million, base metals and metal products - by 35.2% to $ 296.5 million, machinery/equipment/machinery - by 36.4% to $ 639.3 million, textile products - by 20.4% to $ 270.6 million. Chemicals and exports and imports showed an increase of 71.4% and 27.9%, respectively, to $ 29.8 million and $ 419.9 million.

In total, Armenia's foreign trade turnover in Jan-Dec 2017 increased by 26.9% per annum, making 3100.4 billion AMD ($ 6,425.6 million). In its structure, the volume of exports has undergone annual growth of 25.2% to 1082.1 billion AMD ($ 2242.9 million), and imports - annual growth of 27.8% to 2018.3 billion AMD ($ 4,182.7 million). In Jan-Dec 2016, foreign trade turnover increased by 7.4% due to growth in exports by 20% and imports by 1.6%. Armenia's economic activity in Jan-Dec 2017 accelerated its annual growth rate to 7.7%, from an almost stagnating 0.5% in the same period in 2016.

The average calculated exchange rate for AMD was 483.18 AMD/USD1 in December 2017, and 482.72 AMD/USD1 in Jan-Dec, compared to 482.84 AMD/USD1 in December 2016 and 480.49 AMD/USD1 in Jan- Dec 2016.

POST A COMMENT
Input digits     


News
Ardshinbank together with Visa launched an electronic wallet within the Мobile banking appArdshinbank together with Visa launched an electronic wallet within the Мobile banking app
Melkumyan: Melkumyan: "Velvet" government failed in the modernization program of  Metsamor NPP 
Armenia`s trade sector was in decline in January-February 2021Armenia`s trade sector was in decline in January-February 2021
Revenue of the Armenian communications sector in January-February  2021 sank by 4.7% per annumRevenue of the Armenian communications sector in January-February  2021 sank by 4.7% per annum
Passenger transportation in Armenia delayed in decline due to the  coronacrisisPassenger transportation in Armenia delayed in decline due to the  coronacrisis
Get now, pay later, now the same priceGet now, pay later, now the same price
Armenia`s steel industry was in decline by March 2021Armenia`s steel industry was in decline by March 2021
Armenia reduced electricity generation by 5.8% per annum in  January-February 2021Armenia reduced electricity generation by 5.8% per annum in  January-February 2021
Expert: The Central Bank`s initiative is a signal to Expert: The Central Bank`s initiative is a signal to "money bags" or  life under the microscope
RA Issued Eurobonds Are Now Traded on Armenia Securities ExchangeRA Issued Eurobonds Are Now Traded on Armenia Securities Exchange
Armenia`s manufacturing industry continues to sinkArmenia`s manufacturing industry continues to sink
Two-year monitoring of the online labor exchange indicates the  restoration of business optimism-Vahan KerobyanTwo-year monitoring of the online labor exchange indicates the  restoration of business optimism-Vahan Kerobyan
SRC of Armenia encourages decent taxpayersSRC of Armenia encourages decent taxpayers
Converse Bank. New campaign for womenConverse Bank. New campaign for women
Pashinyan to EBRD President: The re-commissioning of transport  communications could help implement new joint projectsPashinyan to EBRD President: The re-commissioning of transport  communications could help implement new joint projects
“Evocabank” CJSC’s bonds have been listed on Armenia Securities Exchange for the first time“Evocabank” CJSC’s bonds have been listed on Armenia Securities Exchange for the first time
 Optimism of the authorities contrary to official statistics: What  will the Armenian economy face? Optimism of the authorities contrary to official statistics: What  will the Armenian economy face?
The Central Bank of Armenia announces its intention to intervene in  the foreign exchange market for the second time in 2021The Central Bank of Armenia announces its intention to intervene in  the foreign exchange market for the second time in 2021
On April 12, Ameriabank will start placing the next tranches of USD  and AMD bonds in the amount of $ 20 million and 5 billion dramsOn April 12, Ameriabank will start placing the next tranches of USD  and AMD bonds in the amount of $ 20 million and 5 billion drams
Ardshinbank and Visa offer smart Visa payment rings for the first time in ArmeniaArdshinbank and Visa offer smart Visa payment rings for the first time in Armenia
Armenia`s unemployment rate drops to 16% in 2020Armenia`s unemployment rate drops to 16% in 2020
Armenia`s SRC: The number of registered micro-entrepreneurship  entities increased by 18% Armenia`s SRC: The number of registered micro-entrepreneurship  entities increased by 18% 
The inflow of foreign investment into the Armenian economy has  declined by 39 in 2020%The inflow of foreign investment into the Armenian economy has  declined by 39 in 2020%
Ex-Minister: Creating a centralized register of bank accounts is an  attempt to adapt the Rolls-Royce engine to your own dreamEx-Minister: Creating a centralized register of bank accounts is an  attempt to adapt the Rolls-Royce engine to your own dream
Armenia`s foreign trade turnover decreased in January-February 2021  by 12.2% per annumArmenia`s foreign trade turnover decreased in January-February 2021  by 12.2% per annum
The financial regulator sees the feasibility of introducing a  centralized register of bank accountsThe financial regulator sees the feasibility of introducing a  centralized register of bank accounts
Armenia`s foreign trade turnover with the EU countries has been  delayed in declineArmenia`s foreign trade turnover with the EU countries has been  delayed in decline
Armenia`s national debt is approaching $9 billionArmenia`s national debt is approaching $9 billion
Armenia`s consumer market recorded inflation of 3.8% in Q1 2021 with  5.2% y-o-y inflation Armenia`s consumer market recorded inflation of 3.8% in Q1 2021 with  5.2% y-o-y inflation 
Up to 150 million cubic meters of Russian gas to be supplied to  Armenia through AzerbaijanUp to 150 million cubic meters of Russian gas to be supplied to  Armenia through Azerbaijan
IDBank offers the most flexible and profitable conditions for mortgage borrowersIDBank offers the most flexible and profitable conditions for mortgage borrowers
Armenia reduced exports of copper ore, increasing exports of zinc and  molybdenum concentrates and ores containing precious metalsArmenia reduced exports of copper ore, increasing exports of zinc and  molybdenum concentrates and ores containing precious metals
Russia and Brazil became the main sugar import markets for Armenia in  2020Russia and Brazil became the main sugar import markets for Armenia in  2020
EU Ambassador and Armenian NPP leadership discussed opportunities for  expanding cooperationEU Ambassador and Armenian NPP leadership discussed opportunities for  expanding cooperation
Deputy Minister: Unblocking of economic ties and transport  communications in the South Caucasus is beneficial to all partiesDeputy Minister: Unblocking of economic ties and transport  communications in the South Caucasus is beneficial to all parties
Moscow plans to discuss the prospects of creating logistics centers  for groupage cargo from ArmeniaMoscow plans to discuss the prospects of creating logistics centers  for groupage cargo from Armenia
Ardshinbank upgrades its branches in Hrazdan and DilijanArdshinbank upgrades its branches in Hrazdan and Dilijan
Armenia`s gross international reserves exceeded $3 billion for the  first time with a 33% jump in FebruaryArmenia`s gross international reserves exceeded $3 billion for the  first time with a 33% jump in February
Armenia and Malta move to eliminate double taxationArmenia and Malta move to eliminate double taxation
Armenian tax officials report over-fulfillment of quarterly tax  collection plan: Finance Ministry promises to take new heightsArmenian tax officials report over-fulfillment of quarterly tax  collection plan: Finance Ministry promises to take new heights
New WB forecast: Armenia ranks second in terms of GDP growth in 2021  among the EAEU countries, and at the rate of 2022 it shares the lead  with KyrgyzstanNew WB forecast: Armenia ranks second in terms of GDP growth in 2021  among the EAEU countries, and at the rate of 2022 it shares the lead  with Kyrgyzstan
New forecast of the Central Bank of Armenia for 2021: GDP growth by  1.4%, export growth by 1-3%, import decline 2-4%, unemployment rate  18.6%New forecast of the Central Bank of Armenia for 2021: GDP growth by  1.4%, export growth by 1-3%, import decline 2-4%, unemployment rate  18.6%
Telecom Armenia summed up the results of the <Coding skills> project Telecom Armenia summed up the results of the project 
The Armenian Stock Exchange is once again recognized as the The Armenian Stock Exchange is once again recognized as the "Best  Stock Exchange in the South Caucasus"
World Bank improves Armenia`s GDP growth forecast for 2021 to 3.4%World Bank improves Armenia`s GDP growth forecast for 2021 to 3.4%
The Central Bank of Armenia predicts an increase in the net inflow of  private transfers in the range of 7-9 in 2021%The Central Bank of Armenia predicts an increase in the net inflow of  private transfers in the range of 7-9 in 2021%
Ardshinbank on April 6 will put up for sale a tranche of AMD and  dollar bonds in the amount of 3.3 billion drams and $10 millionArdshinbank on April 6 will put up for sale a tranche of AMD and  dollar bonds in the amount of 3.3 billion drams and $10 million
 Ameriabank Got Quality Excellence Award 2020 from Raiffeisen Bank  International Ameriabank Got Quality Excellence Award 2020 from Raiffeisen Bank  International
UBA, A. Ananyan: There are no prerequisites for the emergence of  UBA, A. Ananyan: There are no prerequisites for the emergence of  "mortgage bubbles" 
UBA, A. Ananyan: In 2021, the fight against the consequences of the  coronavirus-generated crisis will continueUBA, A. Ananyan: In 2021, the fight against the consequences of the  coronavirus-generated crisis will continue
UBA, A. Ananyan: The share of non-performing loans may grow to 10%  from the current 6.6% UBA, A. Ananyan: The share of non-performing loans may grow to 10%  from the current 6.6% 
Fitch confirmed Armenia rating at the level of Fitch confirmed Armenia rating at the level of "B +" with a stable  outlook, waiting in 2021 GDP growth by 3.2%
The later the economy will be restored, the higher the probability of  a foreign exchange rate and yield of bonds The later the economy will be restored, the higher the probability of  a foreign exchange rate and yield of bonds 
Minister: 580 subvention programs totaling AMD 26.2 billion were  implemented in Armenia in 2020Minister: 580 subvention programs totaling AMD 26.2 billion were  implemented in Armenia in 2020
Expert: Armenia`s economy will reach the level of over 5% in the  context of the next 5 years Expert: Armenia`s economy will reach the level of over 5% in the  context of the next 5 years 
EU to allocate 2 million EUR for the development of social  entrepreneurship in ArmeniaEU to allocate 2 million EUR for the development of social  entrepreneurship in Armenia
The Minister of Economy of Armenia expects the tourist growth in the  current yearThe Minister of Economy of Armenia expects the tourist growth in the  current year
Armenia and Iraq are considering cooperation in the field of  military-industrial complex and high technologyArmenia and Iraq are considering cooperation in the field of  military-industrial complex and high technology
FRV reaches financial close with IFC, EBRD, and Ameriabank for the  largest Utility Scale Solar Power Plant ``Masrik-1`` in ArmeniaFRV reaches financial close with IFC, EBRD, and Ameriabank for the  largest Utility Scale Solar Power Plant ``Masrik-1`` in Armenia
Armenia and the European Union held the third meeting of the  Partnership Committee in Trade Configuration Armenia and the European Union held the third meeting of the  Partnership Committee in Trade Configuration 
Read more


Exchange rates
13.04.2021
RUB6.73-0.10
USD519.43-8.67
EUR617.91-10.58
GBP715.00-10.35
CAD412.74-8.12
JPY47.51-0.80
CNY79.36-1.17
CHF561.24-10.17