Thursday, July 8 2021 14:14
Karine Melikyan

Armenia`s foreign trade turnover with EU countries reaches  double-digit growth

Armenia`s foreign trade turnover with EU countries reaches  double-digit growth

ArmInfo. Armenia's foreign trade turnover with the EU countries in January-May 2021 reached 16.6% growth (from a 19.8% decline a year earlier), amounting to $ 573.2  million.

The negative balance of Armenia's foreign trade with the EU  countries amounted to $ 125 million, with a y-o-y decline of 4.1%  (against an 18.5% decline in the same period in 2020). This was due  to the improvement in the y-o-y dynamics of exports and imports from  the 20.2-19.5% decline to 24-12.2% growth, the absolute value of  which in January-May amounted to $ 224.1 million and $ 349.1 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 from  19.2% to 20% on a y-o-y terms.

In the structure of Armenia's foreign trade with the EU countries,  the largest share falls on Germany - 19.9% or $ 114.3 million (with  an improvement in y-o-y dynamics from a 30.7% decline to 25% growth),  Italy - 18.3% or $ 105.1 million (with an improvement in the y-o-y  dynamics from the 22.9% decline to 23.9% growth), Bulgaria - 14.8% or  $ 85.1 million (with an improvement in the y-o-y dynamics from 5.8%  decline to 10.5 % growth), the Netherlands - 11.9% or $ 68 million  (with the release of the annual dynamics from the 23.9% decline to  9.1% growth), and France - 7% or $ 39.9 million (with an improvement  in the y-o-y dynamics from 2.1% decline to 7.1% growth).

The negative balance of foreign trade between Armenia and Germany  decreased by 2.2% to $ 49.96 million, with France - by 5.7% to $ 32.8  million, and with Italy, on the contrary, increased by 11.8% to $  63.6 million. Armenia's foreign trade with Bulgaria grew by 5% to $  68.9 million, and with the Netherlands - by 2% to $ 38 million, and  in addition to them, positive indicators among the EU trading  partners were shown by Belgium and Slovakia - respectively $ 910.8  thousand and $ 361.5 thousand (the first  with a y-o- y growth of the  surplus, and the second - with an exit from the minus level to plus).

Exports of Armenian goods to Germany increased on a y-o-y terms by  59.4% - to $ 32.2 million, with an increase in imports of goods from  Germany by 15.2% - to $ 82.1 million, while a year earlier there was  a decline in exports by 29.4% and imports by 31.1%. The export of  Armenian goods to Italy increased by 48.7% - to $ 20.8 million, with  an increase in imports of goods from Italy by 19% - to $ 84.3  million, while a year earlier there was a decline in exports by 38.9%  and imports by 18. 6%. The export of Armenian goods to Bulgaria  increased by 8% - to $ 76.99 million, with an increase in imports of  goods from Bulgaria by 42.7% - to $ 8.1 million, against  multidirectional dynamics a year earlier - an increase in exports by  6.3% was accompanied by a significant decline in imports by 61. 6%.  The export of Armenian goods to the Netherlands increased by 6.4% -  to $ 53 million, while the import of goods from the Netherlands  increased by 20% - to $ 14.99 million, against the downtrend a year  earlier in both cases- exports by 24.9% and imports by 19.6%. The  export of Armenian goods to France increased 2.9-fold - to $ 3.5  million, with an increase in imports of goods from France by 1% - to  $ 36.3 million, while a year earlier the opposite situation was  observed - an impressive decline in exports by 74.8% was accompanied  by an increase imports by 8.9%.

In terms of the volume of export of Armenian goods to the EU  countries, Bulgaria is in the lead, the Netherlands is in 2nd place,  Germany is in 3rd place, Italy is in 4th place, and France is in 8th  place. In terms of import volume among the EU countries, Italy,  Germany and France remained in the TOP-3, while the Netherlands and  Bulgaria occupy the 6th and 9th places.

In total, Armenia's foreign trade turnover in January-May 2021  amounted to $ 2.9 billion, with a y-o-y of 11.6% (against an 11.2%  decline a year earlier). In particular, the growth in exports 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%. %. As a result, the  negative foreign trade balance of Armenia in January-May 2021 slowed  down the y-o-y decline from 17.7% to 9.8%, amounting to $ 694.9  million.


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