Thursday, February 6 2020 13:14
Karine Melikyan

Armenia`s foreign trade volume with the EAEU keeps growing, while  with the EU it decreases

Armenia`s foreign trade volume with the EAEU keeps growing, while  with the EU it decreases

ArmInfo.The annual growth in foreign trade between Armenia and Russia in 2019 accelerated to 14.9% from 11.2% in 2018, exceeding $ 2.2 billion. This was triggered by an acceleration in the growth of imports - from 7.2% to 17.4%, with a  slowdown in growth exports from 19.6% to 10.3%, the volumes of which  amounted to $ 1.5 billion and $ 734.5 million, respectively.   According to the Statistical Committee of the Republic of Armenia,  Russia holds the lead by a large margin.

After Russia, China, Switzerland, Germany and Iran gained a foothold  in TOP-5 in terms of foreign trade turnover with Armenia - $ 944.8  million, $ 511.6 million, $ 451.3 million and $ 408.8 million  respectively.  Of these, the largest growth was recorded in China -  by 22.5%, and the smallest - in Germany - by 4.2%.  After Russia,  Switzerland, Bulgaria, China and Iraq settled on TOP-5 exports,  respectively - $ 457.9 million, $ 207.4 million, $ 193.7 million and  $ 177.3 million. Of these, the largest growth was recorded in China -  by 80.7%, and the decline - in Bulgaria - by 3.5%.

After Russia, China, Germany, Iran and the United States were placed  in imports in TOP-5 after Russia - $ 751.1 million, $ 381.7 million,  $ 324.9 million and $ 279.1 million, respectively. Of these, the  highest growth was recorded in the USA - by 56.4%, and the smallest  in China - by 13.1%.

In total, in the structure of exports, the largest growth for the  reporting the period is fixed in Japan - 4 times, despite the fact  that the volume is still miserable. And the same country leads in the  structure of imports by the largest growth - 2.1 times, with the  advance in volume to the 7th position.

Full zeroing of exports was recorded in Brazil, with an increase in  imports in this direction by 9.2%. The largest annual decline in  exports was recorded in Romania - by 99.7% with an increase in  imports in this direction by 4.6%, and for imports the largest  decline in Turkmenistan - by 90.3% with an increase in exports in  this direction by 66.9 %.

The volume of foreign trade of Armenia with the EAEU countries grew  over the 12 months of 2019 by 15.1% per annum to $ 2.3 billion, and  with the EU countries, on the contrary, decreased by 5.7% to $ 1.7  billion, while a year earlier it was recorded in both directions  growth - by 11.3% and 19%, respectively.  Moreover, the export of  Armenian goods to the EAEU countries slowed down growth from 20.7% to  10.5%, amounting to $ 760.9 million, while import growth accelerated  from 6.9% to 17.6% to $ 1.5 billion, while with countries The EU and  exports and imports fell into decline - by 14.7% and 0.4%,  respectively, to $ 583.2 million and $ 1.2 billion, compared with a  year earlier growth of 7.9% and 26.8%. Among the EAEU countries in  terms of foreign trade, Belarus is followed by Russia - $ 67.5  million (annual growth accelerated from 9.1% to 33.6%), Kazakhstan -  $ 8.3 million (reversal from 50% growth to 38.4% decline) and  Kyrgyzstan - $ 3.3 million (a way out of the 31.4% decline in growth  by 2.6 times). The export of Armenian goods to Belarus slowed down  the growth from 66.5% to 49.2% as the dynamics of imports left the  1.2% decline by 28.8% growth. The export of goods to Kazakhstan  started the trend from 98.2% growth to a 44.9% decline, with a  continuing decline in imports with an accelerating pace from 8.7% to  20.9%. In the direction of Kyrgyzstan, exports left the 45% decline  for a 3.2-fold increase, while the dynamics of imports, on the  contrary, turned from a 3.4-fold increase to a 34.6% decline.

According to statistics, in total, the foreign trade turnover of  Armenia slowed down the growth in January- December 2019 to 10.4%  from 16.4% in 2018, amounting to $ 8.1 billion, in particular, export  growth accelerated - from 7.8% to 9.4%, amounting to $ 2.6 billion,  while import growth sharply dropped from 21.1% to 10.8%, amounting to  $ 5.5 billion. The main buyers of Armenian goods in January-December  2019 were Russia - 27.8% in exports, Switzerland - 17.3%, Bulgaria -  7.9%, China - 7.3%, Iraq - 6.7%. The main suppliers of imported  products to Armenia were Russia - 26.8% of total imports, China -  13.6%, Germany - 6.9%, Iran - 5.9% and the USA - 5.1%.

It should be noted that economic activity in Armenia for 12 months of  2019 accelerated the growth rate from 5.8% to 7.8% per annum.  According to the forecast of the Central Bank of the Republic of  Armenia, updated in December, expectations for the growth of  Armenia's GDP in 2019 were once again improved to 7-7.3% (7.2% on  average) from the previous 6.7-7.2% (6.9 on average) %), exports - up  to 9-11% and imports - 4-6% (against the previous 5-7% and 1-3%).  According to a new WB forecast, the GDP growth of Armenia in 2020  will slow down to 5.1% from an estimated 6.9% in 2019, while export  and import growth in 2019 was expected to slow down to 5.1% and 4.2%,  respectively. from actually recorded in 2018, 7.8% and 21.1%.

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