The growth of foreign trade turnover between Armenia and Russia  reduces the speed

ArmInfo. In January-November 2018, the annual growth of foreign trade turnover between Armenia and Russia slowed to 13.5% from last year's 25%, reaching $ 1.75 billion. 

This was triggered by a slowdown in export growth from 44.2% to 19.3%  and imports from 17, 5% to 10.6%, the volumes of which totaled $  605.9 million and $ 1.15 billion, respectively. According to the RA  Statistical Committee, by these three indicators, Russia retains  primacy by a large margin.After Russia, China, Switzerland, Germany  and Iran entrenched in the TOP-5 in terms of foreign trade with  Armenia - $ 702.5 million, $ 428 million, $ 402.1 million and $ 332.4  million, respectively. Of these, the largest growth was recorded in  Iran - by 43%, and the smallest in China - by 31.2%.

As for exports to TOP-5, after Russia, Switzerland, Bulgaria, Germany  and Iraq settled - $ 304 million, $ 201.1 million, $ 133.7 million  and $ 131.2 million, respectively. Of these, the annual decline was  recorded only in Bulgaria - by 22%, and the largest increase was in  Switzerland - by 32.6%. Imports to TOP-5 after Russia were China,  Germany, Iran and Turkey - $ 608.4 million, $ 268.4 million, $ 243.3  million and $ 228.1 million, respectively. Of these, the largest  increase was recorded in Germany - by 56.1%, and the smallest in  Turkey - by 14.4%.In total, the largest decline in the structure of  exports continues to be recorded by Thailand - by 91.6% per annum  (January-November 2018 to the same period of 2017), in parallel with  which, imports from there decreased by 3.5%, and the largest decline  in imports figures for Canada - by 61.8% when export in this  direction out of the 90.3% decline in growth by 2.3 times. The  largest growth in exports was distinguished by Romania and Brazil -  by 15.5-11.9 times, and by imports - Iraq - by 21.2 times.The volume  of foreign trade of Armenia with the countries of the EAEU increased  in 11 months of 2018 by 13.6% per annum - up to $ 1.8 billion, and  with the EU countries - by 22.6% to $ 1.7 billion. 

Moreover, the export of Armenian goods to the EAEU countries  increased by 20.5 % to $ 626.6 million with import growth by 10.3% to  $ 1.2 billion, while with EU countries import growth prevails over  export rates - 30.8% against 11.3% - to respectively $ 1.04 billion  and $ 640.9 million. Among the countries The EAEU in terms of foreign  trade turnover after Russia is followed by Belarus - $ 46.4 million  (annual growth by 14.8%), Kazakhstan - $ 11.8 million (growth by  48.1%) and Kyrgyzstan - $ 962.5 thousand (decline by 43.7%). Exports  of Armenian goods to Belarus increased by 81% with an increase in  imports of only 2.8%, and a significant increase in exports of goods  to Kazakhstan - 2 times was accompanied by a decline in imports by  16.8%. In the direction of Kyrgyzstan, there was an increase in  imports of 14.7 times with a drop in exports of 57.2%.According to  the statistical data, the total foreign trade turnover of Armenia  slowed growth in January-November 2018 to 19.1% from last year's  26.4%, making $ 6.7 billion, in particular, export growth slowed down  from 23.5% to 9.8%, making $ 2.2 billion, and the growth of imports  from 28% to 24.2%, reaching $ 4.5 billion. The main buyers of  Armenian goods in January- October 2018 were Russia - 27.5% in  exports, Switzerland - 13.8%, Bulgaria - 9.1 %, Germany - 6.1% and  Iraq - 6%. The main suppliers of imported products to Armenia were  Russia - 25.4% in total imports, China - 13.5%, Germany - 5.9%, Iran  - 5.4% and Turkey - 5%.It should be noted that economic activity in  Armenia for 11 months of 2018 slowed down the growth rates from 7.3%  to 5.7% per annum.

 According to the updated forecast of the Central Bank of Armenia,  GDP in Armenia in 2018 is expected to be in the range of 4.6-5.1%,  exports - 3-5% and imports - 9-11%. According to a new forecast of  the World Bank, GDP growth in Armenia in 2018 will be 5.3%, exports -  9.1% and imports - 16.9%.