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, the leadership in Armenia's foreign trade turnover is held by Russia with a volume of $ 1.3 billion in January-July 2021, with the change of the y-o-y dynamics from 3.3% decline to 18.4% growth.
Russia also retains leadership in exports and imports - $ 451 million and $ 880.1 million, respectively. Moreover, the y- o-y dynamics of exports for the year changed from the 16.9% decline to the 34.6% growth, while the growth of imports accelerated from 3.6% to 11.5%.
The PRC, which has secured its second place as a foreign trade partner of the Republic of Armenia, is almost twice as far behind Russia. Thus, the foreign trade turnover between Armenia and China amounted to $ 641.3 million in January-July. Moreover, here the y-o-y dynamics changed from the 5.1% decline to the 34% growth. In particular, the export of Armenian goods to China sharply accelerated the y-o-y growth from 19.6% to 98.2%, while the import of goods from China changed from the 11.7% decline to the 11% growth. Exports totaled $ 250.2 million and imports $ 391.1 million.
Iran ranks third in Armenia's foreign trade turnover, keeping the same place in imports. The foreign trade turnover between Armenia and Iran amounted to $ 264.8 million in January-July, with an acceleration of growth from 4.8% to 21.1%. In particular, the volume of exports of Armenian goods to Iran amounted to $ 37 million alone, with a deterioration in y-o-y dynamics from the 17.8% growth to the 25.3% decline, and imports from Iran - $ 227.8 million, with an acceleration of growth from 1.5% up to 34.7%.
Switzerland ranks fourth in Armenia's foreign trade turnover - $ 209.5 million, with a deterioration in y-o-y dynamics from the 9% growth to the 25.8% decline. But in terms of exports, Switzerland secured the third place- $ 191.3 million, despite the deterioration in dynamics from the 20.7% growth to the 30.3% decline. At the same time, the y-o-y dynamics of imports of goods from Switzerland changed from the 75.9% recession to the 2.3-fold increase - up to $ 18.2 million.
Germany ranks fifth - the turnover of goods and services with this country amounted to $ 157.8 million, thanks to the change of the y-o-y dynamics from the 33.3% decline to the 16.7% growth. In particular, the volume of exports of Armenian goods to Germany amounted to $ 44.8 million (with a reversal of the y-o-y dynamics from the 28.6% decline to the 55.1% growth), while imports in the amount of $ 113 million (with a reversal of the y-o-y dynamics from the 34.5 % decline by the 6.2% growth).
In Armenia's foreign trade turnover, the share of Russia increased on a y-o-y terms from 30% to 30.9%, China - from 12.8% to 14.9%, Iran - from 5.8% to 6.2%, Germany - from 3, 6% to 3.7%, while Switzerland, on the contrary, decreased from 7.5% to 4.9%.
Armenia's negative foreign trade balance with Russia decreased in January-July 2021 by 5.6% to $ 429.2 million, with China - by 37.7% to $ 140.9 million, with Germany - by 12% to $ 68.2 million, with an increase in this indicator in the direction of Iran by 59.5% to $ 190.8 million. The balance of foreign trade between Armenia and Switzerland is positive - $ 173.2 million with ay-o-y decline of 35.1%.
Among the countries of Armenia's trading partners, in January-July 2021, in addition to Switzerland, the positive balance was recorded by Bulgaria ($ 118.9 million), Iraq ($ 78.7 million), the Netherlands ($ 58.2 million), the United Arab Emirates ($ 22.9 million), Belgium ($ 5.8 million), Kazakhstan ($ 3.6 million), Kyrgyzstan ($ 1.3 million) and Slovakia ($ 264.8 thousand). In total, Armenia's foreign trade turnover in January-July 2021 amounted to $ 4.3 billion, with a y-o-y growth of 15.1% (against an 11.3% decline a year earlier). In particular, the growth in export volumes by 23.2% to $ 1.6 billion was accompanied by an increase in imports by 10.6% to $ 2.7 billion, while a year earlier both items were in decline - exports by 6.4% and imports by 13.7 %.
Armenia's foreign trade turnover with the EAEU countries in Jan-July 2021 amounted to $ 1.4 billion, with an improvement in the y-o-y dynamics from 2.6% decline to 17.5% growth, against the background of changes in the dynamics of exports from a decline of 15.9% to an increase of 34.4% - to 469.6 million dollars, while the growth of imports accelerated from 4% to 10.3% - to 908.4 million dollars.
And Armenia's foreign trade turnover with the EU countries in January-July 2021 changed from the 21.9% decline to the 21.8% growth, amounting to $ 853.3 million, against the background of improving the y-o-y dynamics of exports and imports from a 24-20.6% decline by 41.1-11.1% growth - to $ 355.4 million and $ 498.1 million, respectively.
As a result, the negative foreign trade balance of Armenia slowed down the y-o-y decline in January-July 2021 from 21% to 5%, amounting to $ 1.02 billion. In particular, the negative balance of Armenia's foreign trade with the EAEU countries decreased by 7.5% per annum in January-July 2021 - up to $ 438.8 million, and with the EU countries - by 27.4% to $ 142.8 million
