ArmInfo.Armenia's foreign trade turnover in January-December 2020 amounted to $ 7.1 billion, registering a decline of 13.2% per annum. According to the final reports of the Statistical Committee of the Republic of Armenia, the reduction in import volumes turned out to be more significant - by 17.7% to $ 4.6 billion, than export - by 3.9% to $ 2.5 billion.
In December 2020, the dynamics of foreign trade turnover from a 5% decline turned to 21.3% growth, due to the reversal of the import trend from 2.6% decline to 20.6% growth, and exports - from 9,4% decline for 22.8% growth. And in December 2020, compared to December 2019, a decrease in foreign trade turnover by 19.8% was provoked by a decline in imports by 29.6% with an increase in exports by 8.6%.
The negative foreign trade balance decreased in January-December 2020 by 30.3% per annum (against 12.7% growth in 2019), amounting to $ 2 billion. Moreover, the negative foreign trade balance of Armenia with the EAEU countries amounted to $ 842.4 million, having increased over 12 months by 8.6% against the background of an increase in imports by 0.2% with a decline in exports by 8.3%. And the negative balance of Armenia's foreign trade with the EU countries amounted to $ 418.5 million, decreasing by 16.2% as a result of a decline in both exports (by 25.9%) and imports (by 21.4%). The main buyers of Armenian goods in January-December 2020 were Russia - 26.6% in exports, Switzerland - 18.4%, China - 11.4%, Iraq - 6.4% and Bulgaria - 5.9%. The main suppliers of imported products to Armenia were Russia - 32.4% in total imports, China - 14.8%, Iran - 6.9%, Germany - 5.2% and Italy - 4.2%.
Among the dominant items of Armenian exports, annual growth was recorded in the leading item - mineral products - by 11.5% to $ 828.1 million. At the same time, the decline was in the export of finished food products - by 12.8% to $ 559.9 million, precious and semi-precious stones and products - by 11.8% to $ 365.9 million, base metals and products from them - by 12.6% to $ 228.2 million, and textile products - by 21.6% to $ 132.8 million. In imports, growth was maintained by such leading articles as herbal products - by 8.7% to $ 254.9 million, while the leading item - mineral products went into decline - by 8.5% to $ 745 million, and a downward trend was observed in finished food products - by 9.9% to $ 394.1 mln. The leading import item - machinery / equipment / mechanisms - showed an increase of 1% to $ 873.9 million, another of the dominant items - base metals and articles thereof - grew by 3.5% to $ 358.3 million, and the rest of the leading articles were in decline: chemical products - by 11,9% to $ 414.5 million, and textile products - by 19.1% to $ 243.8 million. Export of chemical products amounted to $ 29.6 million, entering a 3.8% decline.
It should be noted that a year earlier, in January-December 2019, an increase in Armenia's foreign trade turnover by 10.4% was provoked by an increase in exports by 9.4% and imports by 10.8%. In December 2019 alone, foreign trade turnover increased by 10.1% due to an increase in imports by 18.4%, while exports fell by 8.4%. And in December 2019, compared to December 2018, the growth of foreign trade turnover by 39.3% was largely due to the growth of imports by 51.7%, while exports were growing by 13%. The negative balance of Armenia's foreign trade with the EAEU countries increased by 26.4% in 12 months of 2019 against the background of an increase in imports by 17.6% and exports by 10.5%. And the negative balance of Armenia's foreign trade with the EU countries increased by 5.8% with a decline in exports by 14.7% and imports by 0.4%.
