ArmInfo. Russia and China remain the main foreign trade partners of Armenia. According to the final data of the Statistical Committee of the Republic of Armenia, Russia holds the leadership in Armenia's foreign trade turnover with a volume of $ 1.1 billion in the first half of 2021, with the annual dynamics coming out of a 0.4% decline by 16% growth.
Russia retains the leading position in export and import - $ 365.3 million and $ 730.8 million, respectively. Moreover, the annual dynamics of exports for the year changed from a 19.1% decline by 36% growth, while the growth of imports slowed down from 9.1% to 8.1%.
The PRC, which has secured its second position as a foreign trade partner of the Republic of Armenia, is almost two times behind Russia. Thus, the foreign trade turnover between Armenia and China amounted to $ 546.3 million in the first half of the year. Moreover, here the annual dynamics from the 5.1% decline of the last year reached 33.7% growth. In particular, the export of Armenian goods to China sharply accelerated the annual growth from 23.8% to 2-fold, and the import of goods from China came out of the 12.9% decline by 8.4% growth. Exports amounted to $ 225.2 million, and imports $ 321.1 million. Iran is in the third position in the foreign trade turnover of Armenia, keeping the same position in terms of imports. Foreign trade turnover between Armenia and Iran amounted to $ 223.9 million in the first half of the year, with an acceleration of growth from 1.1% to 26.6%. In particular, the volume of exports of Armenian goods to Iran amounted to only $ 32.9 million, with a deterioration in annual dynamics from 18.9% growth to a 21.1% decline, and imports from Iran - $ 190.97 million, but with the opposite dynamics - from 3, 4% decline for 41.3% growth.
Switzerland ranks fourth in Armenia's foreign trade turnover - $ 177.8 million, with a deterioration in annual dynamics from 4.7% growth to 24.1% decline. But in terms of exports, Switzerland secured the third position - $ 161.2 million, despite the deterioration in dynamics from 18.8% growth to 29.5% decline. At the same time, the annual dynamics of imports of goods from Switzerland came out of the 82.1% recession for 3-fold growth - up to $ 16.5 million.
Germany is on the fifth position. The turnover of goods and services with this country amounted to $ 135 million, thanks to the change of the annual dynamics from the 32.5% decline by 20.9% growth. In particular, the volume of exports of Armenian goods to Germany amounted to $ 38.7 million (with a reversal of the annual dynamics from a 28.7% decline to 61.6% growth), while imports in the amount of $ 96.4 million (with a reversal of the annual dynamics from 33.6 % decline by 9.8% growth). In Armenia's foreign trade turnover, the share of Russia increased in y-o-y terms from 30% to 30.7%, China - from 13% to 15.3%, Iran - from 5.6% to 6.3%, Germany - from 3.5% to 3.8%, while Switzerland, on the contrary, decreased from 7.4% to 5%.
The negative foreign trade balance of Armenia with Russia decreased in the first half of 2021 by 10.4% to $ 365.5 million, with China - by 47.9% to $ 95.8 million, with Germany - by 9.6% to $ 57.7 million, with this indicator growing in the direction of Iran by 69% to $ 158.04 million. The balance of foreign trade between Armenia and Switzerland is positive - $ 144.7 million with an annual decline of 35.2%. Among the countries of Armenia's trade partners, in the first half of 2021, in addition to Switzerland, are Bulgaria ($ 96.3 million), Iraq ($ 60.3 million), the Netherlands ($ 53.2 million), the United Arab Emirates ($ 23.2 million), Kazakhstan ($ 2.97 million), Belgium ( $ 2.9 million), Kyrgyzstan ($ 1.2 million) and Slovakia ($ 1.01 million).
In total, Armenia's foreign trade turnover in the first half of 2021 amounted to $ 3.6 billion, with an annual growth of 13.4% (against a 10.7% decline a year earlier). In particular, an increase in export volumes by 23.3% to $ 1.4 billion was accompanied by an increase in imports by 7.9% to $ 2.2 billion, while as a year earlier, both items were in decline - exports by 6.5% and imports by 12.9%. Armenia's foreign trade turnover with the EAEU countries in the first half of 2021 amounted to $ 1.13 billion, with an improvement in the annual dynamics from a 0.3% decline to 15.3% growth, against the background of the exit of export dynamics from an 18.2% decline by 35.6% growth - to $ 380.3 million, with a slowdown in import growth from 8.7% to 7.2% - to $ 752.9 million. And Armenia's foreign trade turnover with the EU countries in the first half of 2021 came out of a 20.6% decline by 21% growth, amounting to $ 713.6 million, against the background of an improvement in the annual dynamics of exports and imports from 21.6-20.1 % decline by 39.5-10.5% growth - to $ 297.6 million and $ 416 million, respectively.
As a result, Armenia's negative foreign trade balance slowed down the annual decline in the first half of 2021 from 19.4% to 10.9%, amounting to $ 812.7 million. In particular, the negative foreign trade balance of Armenia with the EAEU countries decreased by 11.7 % per annum in the first half of 2021 - up to $ 372.7 million, and with the EU countries - by 27.4% to $ 118.4 million.
