Monday, June 7 2021 19:54
Karine Melikyan

Armenia`s foreign trade turnover with EU countries increased by 12.4%  per annum by May 2021

Armenia`s foreign trade turnover with EU countries increased by 12.4%  per annum by May 2021

ArmInfo. Armenia's foreign trade turnover with the EU countries in January-April 2021 reached 12.4% growth (from a 13.4% decline a year earlier), exceeding $ 449.6  million.

The negative balance of Armenia's foreign trade with the EU  countries amounted to $ 115.9 million, with a y-o-y growth of 21.9%  (against an 18.4% decline in the same period in 2020). This was due  to the improvement in the y-o-y dynamics of exports and imports with  a change from the 11.7-14.4% decline to 9.4-14.2% growth, the  absolute value of which in January-April amounted to $ 166.9 million  and $ 282.8 million, 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 a  y-o-y terms from 19.8% to 20.7%.

In the structure of Armenia's foreign trade with the EU countries,  the largest share falls on Germany - 21.3% or $ 95.8 million (with an  improvement in annual dynamics from a 26.7% decline to 35.9% growth),  Italy - 18% or $ 80.98 million (with the release of the y-o-y  dynamics from the 14.6% decline to 19.1% growth), Bulgaria - 14.3% or  $ 64.2 million (with the deterioration of the annual trend from 5.1%  growth to 3% - recession), the Netherlands - 11.6% or $ 52.3 million  (with the change of the y-o-y dynamics from the 18.9% decline by 1.1%  growth), and France - 7.3% or $ 32.6 million (with a slowdown in the  y-o-y growth from 4.6% to 1.3%).

The negative balance of foreign trade between Armenia and Germany  increased by 18.4% to $ 44.3 million, with Italy - increased by 12.8%  to $ 52.1 million, and with France, on the contrary, decreased by  10.3% to $ 26.9 million. Armenia's foreign trade with Bulgaria  declined by 12.4% to $ 50 million, and with the Netherlands declined  by 10.9% to $ 27.8 million, and these are the only positive  indicators among active trading partner countries from the EU.

Exports of Armenian goods to Germany increased on a y-o-y terms by  55.6% - up to $ 25.7 million, with an increase in imports of goods  from Germany by 29.8% - to $ 70.1 million, while a year earlier there  was a decline in exports by 26.2% and imports by 26.9%. 

The export of Armenian goods to Italy increased by 32.7% - to $ 14.4  million, with an increase in imports of goods from Italy by 16.5% -  to $ 66.5 million, while a year earlier there was a decline in  exports by 33.9% and imports by 9.6%. Exports of Armenian goods to  Bulgaria decreased 7.3% - to $ 57.1 million, with an increase in  imports of goods from Bulgaria by 56.2% - to $ 7.1 million, against  multidirectional dynamics a year earlier - an increase in exports by  21.1% was accompanied by a significant decline in imports by 62 .5%. 

Exports of Armenian goods to the Netherlands decreased by 3.4% - to $  40.1 million, with an increase in imports of goods from the  Netherlands by 19% - to $ 12.2 million, against a downtrend a year  earlier in both cases - exports by 20.5% and imports by 11.8%. The  export of Armenian goods to France increased 2.6-fold- to $ 2.9  million, while the import of goods from France fell by 4.4% - to $  29.8 million, while the opposite situation was observed a year  earlier - an impressive decline in exports by 72.9% accompanied by an  increase in imports by 16.3%.  

In terms of the volume of export of Armenian goods to the EU  countries, Bulgaria is in the lead, the Netherlands is in second  place, Germany is in third, Italy is in fourth, and France is in 8th  place. 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 5th and 7th places.  

In total, Armenia's foreign trade turnover in January-April 2021  amounted to $ 2.2 billion, with a y-o-y growth of 7.2% (against a  10.4% decline a year earlier). In particular, the growth in export  volumes by 16.7% to $ 818.7 million was accompanied by an increase in  imports by 2.2% to $ 1.4 billion, while a year earlier both exports  and imports were in decline - exports by 8.1% and imports by 11.5 %.  As a result, the negative foreign trade balance of Armenia in  January-April 2021 slowed down the y-o-y decline from 16.4% to 14.2%,  amounting to $ 532.9 million


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