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.

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