Tuesday, February 9 2021 11:57

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%.