ArmInfo.Armenia's foreign trade turnover with the EU countries in the first half of 2021 reached 21% growth (from a 20.6% decline a year earlier), amounting to $ 713.6 million.
The negative balance of Armenia's foreign trade with the EU countries amounted to $ 118.4 million, with an annual decline of 27.4% (against an 18% decline in the same period in 2020). This was due to the improvement in the annual dynamics of exports and imports with an exit from the 21.6-20.1% decline to 39.5-10.5% growth, the absolute value of which in the first half of the year amounted to $ 297.6 million and $ 416 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 18.8% to 20% in y-o-y terms.
In the structure of Armenia's foreign trade with the EU countries, the largest share falls on Germany - 18.9% or $ 135 million (with an improvement in annual dynamics from 32.5% decline to 20.9% growth), Italy - 17.7% or $ 126.5 million (with the change of the annual dynamics from the 19.5% decline to 19.5% growth), Bulgaria - 16.1% or $ 114.8 million (with a reversal of the annual trend from 7.6% decline to 29,1% growth), the Netherlands - 12.5% or $ 89.1 million (with the exit of the annual dynamics from the 26.7% decline to 21.9% growth), and Belgium - 6.7% or $ 47.5 million (with a reversal of the annual trend from 48.1% decline to 74.2% growth). The negative balance of foreign trade between Armenia and Germany decreased by 9.6% to $ 57.7 million, while with Italy, on the contrary, increased by 3.4% to $ 75 million. As for the positive balance of foreign trade between Armenia and Bulgaria, an increase was observed by 29.2% to $ 96.3 million, with the Netherlands - by 20.4% to $ 53.2 million, with Belgium- 3.6-fold growth to $ 2.9 million, and in addition to them, Slovakia showed a positive indicator among the EU trading partners - $ 1.01 million section from minus level to plus). The export of Armenian goods to Germany increased y-o-y terms inby 61.6% - to $ 38.7 million, with an increase in imports of goods from Germany by 9.8% - to $ 96.4 million, while a year earlier, a decline in exports of 28.7% was recorded and imports by 33.6%. The export of Armenian goods to Italy increased by 54.2% - to $ 25.7 million, with an increase in imports of goods from Italy by 13% - to $ 100.8 million, while a year earlier there was a decline in exports by 41.1% and imports by 13. 5%. The export of Armenian goods to Bulgaria increased by 29.1% - to $ 105.5 million, with an increase in imports of goods from Bulgaria by 29.9% - to $ 9.3 million, against multidirectional dynamics a year earlier - an increase in exports by 1.5% was accompanied by a significant decline in imports by 54.6%. The export of Armenian goods to the Netherlands increased by 21.4% - to $ 71.1 million, with an increase in imports of goods from the Netherlands by 23.6% - to $ 18 million, against a downtrend a year earlier in both cases - exports by 28.1% and imports by 20%. The export of Armenian goods to Belgium jumped by 79.3% - to $ 25.2 million, with an increase in imports of goods from Belgium by 68.7% - to $ 22.3 million, while a year earlier there was a noticeable downward trend in both items - exports by 42, 6% and imports by 52.9%. Bulgaria is the leader in terms of export of Armenian goods to the EU countries, the Netherlands is in second place, Germany is third, Italy is fourth, and Belgium is fifth. In terms of import volume, Italy, Germany and France remained in the TOP-3 among the EU countries, Belgium took the 4th position, and the Netherlands and Bulgaria took the 6th and 11th positions. It is pertinent to note that France could not stay in the TOP-5 in terms of foreign trade turnover, having shifted to the 6th position only due to a slight shortfall in volume, thereby yielding the 5th position to Belgium.
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, the growth in exports by 23.3% to $ 1.4 billion was accompanied by an increase in imports by 7.9% to $ 2.2 billion, while a year earlier both items were in decline - exports by 6.5% and imports by 12.9 %. As a result, Armenia's negative foreign trade balance slowed down the annual decline from 20.1% to 11%, amounting to $ 812.7 million in the first half of 2021
