Tuesday, January 19 2021 11:34
Karine Melikyan

Despite the recession, Russia retains leadership in Armenia`s foreign  trade turnover

Despite the recession, Russia retains leadership in Armenia`s foreign  trade turnover

ArmInfo.. In foreign trade Armenia's leadership is held by Russia with volume in  January-November 2020 over $ 1.9 billion, despite the reversal of  annual dynamics from 12.6% growth by 2.8% decline.

Russia retains leadership not only in this indicator, but also for exports and  imports - $ 604.3 million and $ 1.3 billion, respectively, the annual  dynamics of which also deteriorated, manifested in exports by a  reversal from 10.8% growth to 11.1% decline, and in imports - a  slowdown in growth from 13.6% to 1.4%. This is evidenced by the data  of the RA Statistical Committee.

China continues to occupy the second position in Armenia's foreign  trade turnover - $ 867.2 million, with a slowdown in growth from  17.4% to 4.7%. In particular, the volume of exports of Armenian goods  to China slowed down to 59% (from 71% a year earlier) to $ 255.8  million (3rd position), while the dynamics of imports reversed by  8.4% (from 9.2% - growth a year earlier) to $ 611.4 million (2nd  position).  Switzerland occupies the third position in Armenia's  foreign trade turnover - $ 447.7 million, with a deterioration in the  annual dynamics of volume to 0.9% decline (from 5.3% growth a year  earlier). In particular, the volume of exports of Armenian goods to  Switzerland slowed down to 5.3% (from 35.4% a year earlier),  amounting to $ 434.8 million (2nd position), while imports lingered  in decline with a slight slowdown from 68.7 % to 66.9%, amounting to  $ 12.9 million.

The fourth position in Armenia's foreign trade turnover was held by  Iran - $ 360.8 million, despite the deterioration of the annual  volume dynamics from 9.1% growth to 0.6% decline. In particular, the  volume of exports of Armenian goods to Iran amounted to $ 79.9  million, with the annual dynamics coming out of a 14.6% decline by 5%  growth, and imports of goods from Iran - $ 280.9 million (3rd  position) with a trend reversal from 17 , 8% growth for 2.1% decline.

Germany held the fifth position in Armenia's foreign trade turnover -  $ 263.9 million, despite the acceleration of the decline from 5.2% to  31.6%. In particular, the volume of exports of Armenian goods to  Germany amounted to $ 51.3 million (with a slowdown in the annual  decline from 51.8% to 20.4%), while imports amounted to $ 212.7  million (with a reversal of the annual dynamics from 17.6% to 33 , 9%  decline).

Switzerland and China hold the second and third positions in the  TOP-3 after Russia in terms of exports, and China and Iran in terms  of imports.

In Armenia's foreign trade turnover, the share of Russia increased on  an annualized basis from 27.6% to 30.6%, China - from 11.4% to 13.6%,  Switzerland - from 6.2% to 7%, Iran - from 5% to 5.7%, while the  share of Germany, on the contrary, decreased from 5.3% to 4.2%.

The negative balance of foreign trade between Armenia and Russia  increased by 14.8% to $ 773.2 million, while this indicator decreased  in the direction of China by 29.9% to $ 355.5 million, Iran - by 4.7%  to $ 201.1 million, Germany - by 37.2% to $ 161.4 million. The  balance of foreign trade between Armenia and Switzerland is positive  - $ 422 million with an annual growth of 12.8%. Among the countries  of Armenia's trading partners, in addition to Switzerland, Iraq ($  147 million), Bulgaria ($ 122.1 million), the United Arab Emirates ($  71.8 million), the Netherlands ($ 55.8 million) and Kyrgyzstan ($  953.5 thousand) record a positive foreign trade balance.

In total, Armenia's foreign trade turnover in January-November 2020  amounted to $ 6.4 billion, being in a decline of 12.4% per annum  (against an increase of 7.4% a year earlier). In particular, the  decline in import volumes turned out to be more significant - by  15.9% to $ 4.1 billion, than exports - by 5.2% to $ 2.3 billion,  against the growth of these items a year earlier by 6.6% and 9%,  respectively.

Armenia's foreign trade turnover with the EAEU countries in  January-November 2020 amounted to $ 2.03 billion, with a  deterioration in annual dynamics from 12.8% growth to a 2% decline,  amid a slowdown in import growth from 13.9% to 2.5% - to $ 1.4  billion and a reversal of the export trend from 10.7% growth to 10.7%  decline - to $ 627.9 million. And Armenia's foreign trade turnover  with the EU countries in January-November 2020 was delayed in a  downward trend with an acceleration of annual rates from 7 , 6% to  22.8%, amounting to $ 1.15 billion, amid a decline in both exports by  29.5% to $ 384.6 million, and imports by 18.9% to $ 762.7 million,  which was already visible a year earlier, but at a modest pace -  14.2% and 3.5% respectively.

As a result, the negative foreign trade balance of Armenia 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. In  particular, the negative foreign trade balance of Armenia with the  EAEU countries, having increased over 11 months of 2020 by 16.6%  (against growth by 17.5% a year earlier), amounted to $ 773.2  million, and the negative balance of Armenia's foreign trade with the  EU countries, having decreased over 11 months of 2020 by 4.3% (  against growth by 13.5% a year earlier), amounted to $ 378.1 million 


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