Tuesday, April 6 2021 21:50
Karine Melikyan

Armenia`s foreign trade turnover decreased in January-February 2021  by 12.2% per annum

Armenia`s foreign trade turnover decreased in January-February 2021  by 12.2% per annum

ArmInfo.Armenia's foreign trade turnover in January-February 2021 amounted to $ 925.4 million, falling by 12.2% per annum. According to the final data of the  Statistical Committee of the Republic of Armenia, this was  accompanied by a more noticeable drop in import volumes - by 15.8% to  $ 571 million, than exports - by 5.5% to $ 354.4 million.  

In February 2021, the dynamics of foreign trade turnover from a 46%  decline came to 24.9% growth, due to the reversal of the import trend  from 49.4% decline to 26.9% growth, and exports - from 39, 5% decline  for 21.8% growth. And in February 2021, compared to February 2020,  the decrease in foreign trade turnover by 9.5% was provoked to a  greater extent by the decline in imports by 13.6% than by a modest  decline in exports by 2%.

The negative foreign trade balance decreased in January-February 2021  by 28.6% per annum (against a 10.3% decline in the same period of  2020), amounting to $ 216.7 million. Moreover, the negative foreign  trade balance of Armenia with the EAEU countries amounted to $ 92.4  million, having decreased in annual terms by 33.9% against the  background of a decline in imports by 18.8% with an increase in  exports by 2.5%. And the negative balance of foreign trade of Armenia  with the EU countries amounted to $ 36.4 million, having increased by  19.3% on an annual basis as a result of the deterioration in the  dynamics of exports towards a 7.4% decline with a slow 0.2% decline  in imports.

The main buyers of Armenian goods in January-February 2021 were  Russia - 27.7% in exports, China - 15.4%, Switzerland - 11.2%,  Bulgaria - 8.4%, the Netherlands - 5.2%. The main suppliers of  imported products to Armenia were Russia - 33.3% in total imports,  China - 14.8%, Iran - 9%, Italy - 4.7% and Germany - 4.5%.

Among the dominant items of Armenian exports, annual growth in  January-February was recorded in the leading item - mineral products  - by 10.7% to $ 129.7 million, as well as in base metals and products  from them - by 25.2% to $ 47.4 million. At the same time, the decline  was in the export of finished food products - by 13.9% to $ 74.7  million, precious and semi-precious stones and products - by 35.2% to  $ 37.3 million, and textile products - by 11.4% to $ 21.3 million. In  imports, the leading items were in decline: the leading item -  mineral products - by 7.7% to $ 140.7 million, as well as machinery /  equipment / mechanisms - by 18.6% to $ 92 million, chemical products  - by 6.1% to $ 44.4 million, finished food products - by 15.7% to $  41.1 million, base metals and products from them - by 10.4% to $ 36  million, precious and semiprecious metals and products from them - by  21.2% to $ 35.9 million, textile products - by 27.1% to $ 30.1  million, and products of plant origin - by 4.2% to $ 28.95 million.  Export of chemical products amounted to $ 3.3 million, having  lingered in the decline with a slowdown to 7.2%.

It should be noted that a year earlier, in January-February 2020, an  increase in Armenia's foreign trade turnover by 2.4% was provoked by  an increase in exports by 8.8%, while imports fell by 0.8%. In  February 2020 alone, foreign trade turnover increased by 15.4% due to  an increase in imports by 19.9% with an increase in exports by 7.6%.  And in February 2020, compared to February 2019, the decline in  foreign trade turnover by 2.5% was due to both a decline in imports  by 3.2% and a decline in exports by 1.3%. The negative balance of  Armenia's foreign trade with the EAEU countries increased in  January-February 2020 by 15.5% per annum against the background of an  increase in imports by 11.5% and exports by 5.5%. And the negative  balance of Armenia's foreign trade with the EU countries in  January-February 2020 decreased by 23.4% per annum with a decline in  imports by 5.5% and an increase in exports by 3.5%.

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