Wednesday, September 8 2021 14:37

ArmInfo.Armenia's foreign trade turnover with the EAEU countries in January-July 2021 compared to the same period of 2020 reached 17.5% growth (from a 2.6% decline  a year earlier), amounting to $ 1.4 billion, as evidenced by the  final data of the Statistical Committee of RA.

 According to statistics, the negative balance of Armenia's foreign trade with the  EAEU countries in January-July 2021 amounted to $ 438.8 million,  decreasing in annual terms by 7.5% (against growth by 9.8% a year  earlier) against the background of export changing from 15.9% decline  by 34.4% growth with accelerated growth of imports from 4% to 10.3%,  the absolute value of which reached $ 469.6 million and $ 908.4  million, respectively.

The upward trend of Armenia's foreign trade turnover with the EAEU  countries was caused by Russia, Kazakhstan and Kyrgyzstan, and in the  direction of Belarus, foreign trade sank. In particular, Armenia's  foreign trade turnover with Russia reversed the annual dynamics from  3.3% decline to 18.4% growth, with Kazakhstan - accelerated growth  from 33.3% to 52.5%, with Kyrgyzstan it changed 39, 7% decline by 36%  growth, and with Belarus, on the contrary, reversed the dynamics from  16.2% growth to 12.3% decline.

Russia holds the lead both in the total volume of foreign trade  turnover ($ 1.3 billion) and in exports and imports ($ 451 million  and $ 880.1 million, respectively). Exports with Russia brought the  annual dynamics out of the 16.9% decline to 34.6% growth, while  import growth accelerated from 3.6% to 11.5%.  In the structure of  Armenia's foreign trade with the EAEU countries, Belarus, Kazakhstan  and Kyrgyzstan follow in terms of volume after Russia - $ 37.1  million, $ 8.4 million and $ 1.4 million, respectively.

The export of Armenian goods to Belarus increased by 8.6% to $ 11.3  million, and imports in this direction dropped by 19.1% to $ 25.8  million, while a year earlier both exports and imports in this  direction grew by 30, 9% and 12.3% respectively. Export to Kazakhstan  grew by 95.4% to $ 6.02 million with a decline in imports by 1.5% to  $ 2.4 million, against an upward trend in both cases a year earlier -  exports by 21.4% and imports by 51.3%. The export of Armenian goods  to Kyrgyzstan increased by 46.2% to $ 1.3 million with a decline in  imports by 56.2% to $ 44.1 thousand, while a year earlier a  significant increase was observed in imports (by 46.3%) with a  decline in exports (by 42,5%).

The share of Armenia's foreign trade turnover with the EAEU countries  in the total structure of foreign trade amounted to 32% in  January-July 2021, against 31.3% in the same period of 2020.  Moreover, the share of Russia increased - from 30% to 30.9%, Belarus,  on the contrary, decreased from 1.1% to 0.9%, and Kazakhstan and  Kyrgyzstan - did not change - 0.2% and 0.03%, respectively. Namely,  in the structure of Armenia's foreign trade with the EAEU countries,  the share of Russia is 96.6%, Belarus - 2.7%, Kazakhstan - 0.6%,  Kyrgyzstan - 0.1%.  In total, Armenia's foreign trade turnover in  January-July 2021 amounted to $ 4.3 billion, with an annual growth of  15.1% (against an 11.3% decline a year earlier). In particular, the  growth in exports 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 %.  As a result, Armenia's negative foreign trade balance slowed down the  annual decline from 21% to 5%, amounting to $ 1.02 billion in  January-July 2021