Armenia`s foreign trade turnover with the EAEU countries is in  decline

ArmInfo.Armenia's foreign trade turnover with the EAEU countries in the first quarter of 2021 compared to the same period in 2020 decreased by 9.3% (against 5.7%  growth a year earlier), amounting to $ 459.7 million, as evidenced by  the final data of the RA Statistical Committee.  

According to statistics, the negative balance of Armenia's foreign trade with the  EAEU countries in the first quarter of 2021 amounted to $ 151.8  million, decreasing in y-o-y terms by 26.1% (against an increase of  10.3% a year earlier) amid a decline in imports by 14.2% to $ 305.8  million with an increase in exports by 2.1% to $ 153.9 million  (against an increase in imports by 8.2% and a decline in exports by  0.1% a year earlier).

The downward trend in Armenia's foreign trade turnover with the EAEU  countries was caused by Russia and Belarus, while Kazakhstan and  Kyrgyzstan showed growth. In particular, Armenia's foreign trade  turnover with Russia decreased by 8.1% per annum (against 4.7% growth  a year earlier), and with Belarus - by 49.8% (against growth by 40.9%  a year earlier). At the same time, the annual growth of Armenia's  foreign trade turnover with Kazakhstan accelerated from 14.1% to  54.1%, and with Kyrgyzstan increased by 85.8% (against a decline of  28.4% a year earlier).

Russia holds the lead both in terms of the total volume of foreign  trade turnover ($ 446.2 million) and in exports and imports ($ 147.3  million and $ 298.9 million, respectively). Exports with Russia  brought the annual dynamics out of a 1.1% decline to 2% growth, while  the import trend reversed from 7.2% growth to a 12.4% decline.

In the structure of Armenia's foreign trade with the EAEU countries,  Belarus, Kazakhstan and Kyrgyzstan follow in terms of volume after  Russia - $ 9.4 million, $ 3.5 million and $ 597.3 thousand,  respectively.

The export of Armenian goods to Belarus decreased by 26.8% to $ 3.4  million, while imports in this direction sank by 57.5% to $ 5.99  million, against a significant increase in these indicators a year  earlier - exports by 49.6% and imports by 38.4 %. In the direction of  Kazakhstan, exports increased by 85.2% to $ 2.7 million with a  decline in imports by 0.1% to $ 826.6 thousand, against an almost  similar moderate growth of these indicators a year earlier by 13.6%  and 14.9%, respectively. The export of Armenian goods to Kyrgyzstan  jumped 2.2-fold to $ 555 thousand with a decline in imports by 38.1%  to $ 42.3 thousand, while a year earlier an impressive growth was  observed in imports (19.3-fold) with a significant decline in exports  (by 42%).

The share of Armenia's foreign trade turnover with the EAEU countries  in the total structure of foreign trade amounted to 30.5% in the  first quarter of 2021 against 31.9% in the same period in 2020.  Moreover, the share of Russia decreased from 30.6% to 29.6%, Belarus  - from 1.2% to 0.6%, Kazakhstan - increased from 0.1% to 0.2%, and  Kyrgyzstan - increased from 0, 02% to 0.04%. Namely, in the structure  of Armenia's foreign trade with the EAEU countries, the share of  Russia is 97.1%, Belarus - 2%, Kazakhstan - 0.8%, Kyrgyzstan - 0.1%.

In total, Armenia's foreign trade turnover in the first quarter of  2021 amounted to $ 1.5 billion, being in a decline of 4.4% per annum  (against a 4% decline a year earlier). In particular, the decline in  imports by 8.7% to $ 936.4 million was accompanied by an increase in  exports by 3.4% to $ 572.9 million, which was also noted a year  earlier - a decline in imports by 6.2% with a stagnant 0.2% growth in  exports. As a result, Armenia's negative foreign trade balance  accelerated the annual decline in the first quarter of 2021 from  13.4% to 16.8%, amounting to $ 363.5 million