Friday, May 7 2021 15:10
Karine Melikyan

Armenia`s foreign trade turnover with EU countries has grown

Armenia`s foreign trade turnover with EU countries has grown

ArmInfo.Armenia's foreign trade turnover with the EU countries in the first quarter of 2021 reached 4.6% growth (from an 8.4% decline a year earlier), amounting to $  321.4 million.

The negative balance of Armenia's foreign trade with  the EU countries amounted to $ 67 million, with a slowdown y-o-y  decline in the first quarter of 2021 to 4.6% (from 9.3% in the same  period of 2020).  This was due to the improvement in the y-o-y  dynamics of exports and imports with an exit from the 8.1- 8.6%  decline to 7.3-2.9% growth, the absolute value of which amounted to $  127.2 million and $ 194.2 million in the first quarter, respectively.   This is evidenced by the final data of the RA Statistical Committee.

As a result, the share of Armenia's foreign trade turnover with the  EU countries in the overall structure of foreign trade increased on  an annualized basis from 19.6% to 21.3%.

Germany has the largest share of Armenia's foreign trade with EU  countries - 22.1% or $ 71.1 million (with an improvement in y-o-y  dynamics from a 24.8% decline to 36.1% growth), Bulgaria - 17.7% or $  56.9 million (with an improvement in the y-o-y trend from 0.7%  decline to 10.7% growth), Italy - 17.1% or $ 54.8 million (with a  noticeable slowdown in y-o-y growth from 26.3-fold to 3.7 %), The  Netherlands - 10.5% or $ 33.9 million (with an acceleration of the  y-o-y decline from 8.1% to 12.5%), and France - 7.7% or $ 24.8  million (with a worsening of the y-o-y dynamics from 13.1% - growth  by 6.3%).

The negative balance of foreign trade between Armenia and Germany  increased by 39.4% to $ 35 million, with Italy - increased by 10.3%  to $ 37.4 million, and with France, on the contrary, decreased by  12.2% to $ 21.5 million. Armenia's foreign trade with Bulgaria grew  by 12% to $ 48.5 million, and with the Netherlands - a decline of  6.1% to $ 21.7 million, and these are the only positive indicators  among active trading partner countries from the EU, except for the  minuscule positive balance of Slovakia.

Exports of Armenian goods to Germany increased on an annualized basis  by 33.2% - up to $ 18 million, with an increase in imports of goods  from Germany by 37.1% - up to $ 53 million, while a year earlier,  exports declined by 22.9% and imports by 25.5%. The export of  Armenian goods to Italy decreased by 8.2% - to $ 8.7 million, with an  increase in imports of goods from Italy by 6.3% - to $ 46.1 million,  while a year earlier there was an increase in both exports and  imports. 

The export of Armenian goods to Bulgaria increased by 11.3% - to $  52.7 million, with an increase in imports of goods from Bulgaria by  4% - to $ 4.2 million, against multidirectional dynamics a year  earlier - an increase in exports by 14.4% was accompanied by a  significant decline in imports by 61, 2%. The export of Armenian  goods to the Netherlands decreased by 10.2% - to $ 27.8 million,  while the import of goods from the Netherlands decreased by 21.7% -  to $ 6.2 million, against the multidirectional dynamics a year  earlier - the decline in exports by 11.2% was accompanied by an  increase in imports by 7 %. The export of Armenian goods to France  increased by 66.7% - to $ 1.7 million, while the import of goods from  France decreased by 9.2% - to $ 23.1 million, while a year earlier  the opposite was observed - an impressive decline in exports by 72.4%  was accompanied by an increase in imports by 28.8%.  

In terms of the volume of export of Armenian goods to the EU  countries, Bulgaria is in the lead, the Netherlands is second,  Germany - third, Italy-fourth, and France is in 8th position. In  terms of import volume, Germany, Italy and France remained in the  TOP-3 among the EU countries, while the Netherlands and Bulgaria  occupy the 8th and 11th positions.  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, the  negative foreign trade balance of Armenia in the first quarter of  2021 accelerated the y-o-y decline from 13.4% to 16.8%, amounting to  $ 363.5 million 

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