ArmInfo. Russia and China remain the main foreign trade partners of Armenia.
According to the final data of the RA Statistical Committee, Russia holds the leadership in Armenia's foreign trade turnover with a volume of $ 879.8 million in January-May 2021, with an accelerated y-o-y growth from 3.1% to 11.9%. Russia retains the leadership in export and import - $ 288.7 million and $ 591.1 million, respectively. Moreover, the y-o-y dynamics of exports for the year changed by 31.4% growth from the 14.6% decline, while the growth of imports slowed down from 11.6% to 4.3%.
The PRC, which has secured its second place as a foreign trade partner of the Republic of Armenia, is almost twice behind Russia. Thus, the foreign trade turnover between Armenia and China amounted to $ 434.7 million in January-May. Moreover, after 9.9% decline last year, the y-o-y dynamics in this case also changed by 36.9% growth. In particular, the export of Armenian goods to China sharply accelerated the y-o-y growth from 15.4% to 2.2-fold, and the import of goods from China - from a 16.3% decline to 10.2% growth. Exports totaled $ 173.3 million and imports $ 261.4 million.
Iran ranks third in Armenia's foreign trade, maintaining the same place in imports. Foreign trade turnover between Armenia and Iran amounted to $ 183.6 million in January-May, by change of dynamics from 2.1% decline to 35.2% growth. In particular, the volume of exports of Armenian goods to Iran amounted to only $ 29.5 million with deterioration in y-o-y dynamics from 35.9% growth to 14.4% decline, and imports from Iran - $ 154.1 million, but with the opposite dynamics - from 10, 8% decline for 52.1% growth.
Switzerland ranks fourth in Armenia's foreign trade turnover - $ 146.2 million, with an accelerated decline from 12.4% to 14.6%. But in terms of exports, Switzerland secured the third place - $ 130.5 million, despite the deterioration in dynamics from 0.7% growth to 21.6% decline. At the same time, the y-o-y dynamics of imports of goods from Switzerland changed by 83.8% decline to an increase of 3.3-fold - to $ 15.7 million.
Germany is in fifth place: trade with this country amounted to $ 114.3 million, which is associated with a 25% y-o-y growth from a 30.7% decline. In particular, the volume of exports of Armenian goods to Germany amounted to $ 32.2 million (by change in y-o-y dynamics from a decline of 29.4% to an increase of 59.4%), with imports in the amount of $ 82.1 million (by change in y-o-y dynamics from a 31.1% decline to 15.2% growth).
To note, the share of Russia in Armenia's foreign trade turnover increased on a y-o-y terms from 30.7% to 30.8%, China - from 12.4% to 15.2%, Iran - from 5.3% to 6.4%, Germany - from 3.6% to 4%, while Switzerland, on the contrary, decreased from 6.7% to 5.1%.
The negative balance of foreign trade of Armenia with Russia decreased by 12.8% to $ 302.4 million, with China - by 43.8% to $ 88.1 million, with Germany - by 2.2% to $ 49.96 million, with an increase in this indicator towards Iran - almost doubled to $ 124.5 million. The balance of foreign trade between Armenia and Switzerland is positive - $ 114.7 million with a y-o-y decline of 29%.
Among the countries of Armenia's trading partners, in addition to Switzerland, a positive foreign trade balance is recorded: Iraq ($ 51.7 million), Bulgaria ($ 68.9 million), the Netherlands ($ 38.02 million), the United Arab Emirates ($ 18.9 million), Kazakhstan ($ 2.3 million), Kyrgyzstan ($ 967.4 thousand) and Slovakia ($ 361.5 thousand).
In total, Armenia's foreign trade turnover in January-May 2021 amounted to $ 2.9 billion, with a y-o-y growth of 11.6% (against an 11.2% decline a year earlier). In particular, the growth in export volumes by 20.8% to $ 1.1 billion was accompanied by an increase in imports by 6.7% to $ 1.8 billion, while a year earlier both items were in decline - exports by 8.1% and imports by 12.8%. %.
Armenia's foreign trade turnover with the EAEU countries in January-May 2021 amounted to $ 909.2 million, with an acceleration in y-o-y growth from 3.2% to 11.1%, against the background of export dynamics changed by 31% growth from 13.8% decline - to $ 300.3 million, with a slowdown in import growth from 11.3% to 3.4% - to $ 608.9 million.
And Armenia's foreign trade turnover with the EU countries in January-May 2021 changed a 19.8% decline by 16.6% growth, amounting to $ 573.2 million, against the background of an improvement in the y-o-y dynamics of exports and imports from 20.2-19.5 % decline by 24-12.2% growth - to $ 224.1 million and $ 349.1 million, respectively.
As a result, Armenia's negative foreign trade balance slowed down the y-o-y decline in January-May 2021 from 17.7% to 9.8%, amounting to $ 694.9 million. In particular, the negative foreign trade balance of Armenia with the EAEU countries in January-May 2021, decreased by 14.2% per annum - to $ 308.6 million, and with the EU countries - by 4.1% to $ 125 million
