ArmInfo.Armenia's foreign trade turnover in January-November 2020 amounted to 3.1 trillion. drams ($ 6.4 billion), having fallen by 12.4% per annum. According to the data of the Statistical Committee of the Republic of Armenia, the reduction in import volumes turned out to be more significant - by 15.9% to 1.98 trillion. drams ($ 4.1 billion) than exports - by 5.2% to 1.1 trillion drams ($ 2.3 billion).
In November 2020, the decline in foreign trade turnover accelerated from 2.9% to 5%, due to the reversal of the dynamics of imports from 2.3% growth to 2.6% decline, and the slowdown in exports with a slowdown from 11.1 % to 9.4%. And in November 2020 compared to November 2019, a 25.9% decrease in foreign trade turnover was triggered by a 28.9% decline in imports, while exports fell by 19.4%. The negative foreign trade balance decreased in January-November 2020 by 26.5% per annum (against 4.4% growth a year earlier in the same period), amounting to $ 1.8 billion. Moreover, the negative foreign trade balance of Armenia with the EAEU countries amounted to $ 773.2 million , having increased over 11 months by 16.6% against the background of an increase in imports by 2.5% with a decline in exports by 10.7%. And the negative balance of foreign trade of Armenia with the EU countries amounted to $ 378.1 million, decreasing by 4.3% as a result of a decline in both exports (by 29.5%) and imports (by 18.9%).
The main buyers of Armenian goods in January-November 2020 were Russia - 26.5% in exports, Switzerland - 19%, China - 11.2%, Iraq - 6.5% and Bulgaria - 6.1%. The main suppliers of imported products to Armenia were Russia - 32.9% in total imports, China - 15%, Iran - 6.9%, Germany - 5.2% and Italy - 4.3%. Among the dominant items of Armenian exports, annual growth was recorded in the leading item - mineral products - by 14.1% to $ 759.8 million. At the same time, the decline was in the export of finished food products - by 14.9% to $ 495.9 million, precious and semi-precious stones and products - by 12.1% to $ 336.04 million, base metals and products from them - by 18.7% to $ 195.8 million, and textile products - by 22.7% to $ 121 million. In imports, the growth was maintained by such leading articles as herbal products - by 12.1% to $ 222.7 million, while the leading item - mineral products went into decline - by 8.3% to $ 661.7 million, and a downward trend was observed in finished food products - by 6.7% to $ 350.5 mln. The leading import item - machinery / equipment / mechanisms - showed an increase of 3.3% to $ 784.3 million, another of the dominant items - base metals and products from them - grew by 4.4% to $ 325.2 million, and other leading articles fell into recession: chemical products - n and 13.8% to $ 366.8 million, and textile products - by 22.3% to $ 214.8 million.
Export of chemical products amounted to $ 27.5 million, slowing down growth to a stagnant 0.3%. It should be noted that a year earlier, in January- November 2019, an increase in Armenia's foreign trade turnover by 7.4% was provoked by an increase in exports by 9% and imports by 6.6%. In November 2019 alone, foreign trade turnover increased by 4.5% due to an increase in exports by 8.5% and imports by 3.1%. And in November 2019, compared with November 2018, the growth of foreign trade turnover by 14.2% came mainly from the growth of exports by 25.7%, while the growth of imports by 9.6%. The negative balance of Armenia's foreign trade with the EAEU countries increased by 17.5% over 11 months of 2019 against the background of an increase in imports by 13.9% and exports by 10.7%. And the negative balance of Armenia's foreign trade with the EU countries increased by 13.5%, with a decline in exports by 14.2% and imports by 3.5%.
