ArmInfo.The volume of imports of oil products to Armenia increased in 2020 by 20.5% (against growth by 19% in 2019), amounting to 473.8 thousand tons. According to the data of the RA Customs Service, a 19.3% decline was recorded in value terms - to $ 240.1 million.
The TOP-5 import markets of Armenia included Russia - 69% (against 72.1% in 2019), Iran - 23.3% (against 11.5% in 2019), followed by Romania, Georgia, Ukraine, Belgium, Italy, China. According to the source, in the reporting year, oil exports increased by 72.3% to 790.6 tons in 2020. In value terms, exports increased by 10.4%, amounting to $ 356.2 thousand. Exports of oil products from Armenia almost completely (98.4%) fell on the Iranian market, and the remaining volume was distributed between Belarus, Russia and Georgia.
To note, the price of Brent oil on international markets in 2020 fell by an average of 20% to $ 51.45 per barrel by December 31. And the price of Urals oil fell in 2020 by 34.4% - to $ 41.73 per barrel.
