ArmInfo.Armenia's foreign trade turnover with the EU countries in Jan- July 2021 reached 21.8% growth (from a 21.9% decline a year earlier), amounting to $ 853.5 million. The negative balance of Armenia's foreign trade with the EU countries amounted to $ 142.8 million, with an annual decline of 27.4% (against a 13.7% decline in the same period in 2020).
This was due to the improvement in the annual dynamics of exports and imports, which demonstrated growth, and the export rates were much faster than imports - 41.1% versus 11.1% (versus 24-20.6% decline a year earlier), the absolute value of which reached $ 355.4 million and $ 498.1 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 in y-o-y terms from 18.7% to 19.8%.
In the structure of Armenia's foreign trade with the EU countries, the largest share falls on Germany - 18.5% or $ 157.8 million (with the release of the annual dynamics from 33.3% decline to 16.7% growth), Italy - 18.1% or $ 154.7 million (with the release of the annual dynamics from the 21.5% decline to 24.9% growth), Bulgaria - 16.5% or $ 140.7 million (with a reversal of the annual trend from 13.7% decline to 32,7% growth), the Netherlands - 11.7% or $ 99.95 million (with the release of the annual dynamics from 28.9% decline to 19.3% growth), and Belgium - 6.8% or $ 57.8 million (with a reversal of the annual trend from 41.4% decline to 63.6% growth). The negative balance of foreign trade between Armenia and Germany decreased by 12% to $ 68.2 million, while with Italy, on the contrary, increased by 8.2% to $ 89.6 million. As for the positive balance of foreign trade between Armenia and Bulgaria, an increase was observed by 36.8% to $ 118.9 million, with the Netherlands - by 19.5% to $ 58.2 million, with Belgium - a jump of 4.1-fold to $ 5.8 million, and besides them, Slovakia showed a positive indicator among the countries-trade partners from the EU - $ 264.8 thousand (with an annual exit from negative level to positive).
Exports of Armenian goods to Germany increased in y-o-y terms by 55.1% - to $ 44.8 million, with an increase in imports of goods from Germany by 6.2% - to $ 113 million, while a year earlier, a decline in exports of 28.6% was recorded and imports by 34.5%. The export of Armenian goods to Italy increased by 58.8% - to $ 32.6 million, with an increase in imports of goods from Italy by 18.2% - to $ 122.2 million, while a year earlier there was a decline in exports by 39.9% and imports by 16.4%. The export of Armenian goods to Bulgaria increased by 34.6% - to $ 129.8 million, with an increase in imports of goods from Bulgaria by 13.9% - to $ 10.9 million, against the decline in both indicators a year earlier - exports by 8.2% and imports by 46. 3%. Exports of Armenian goods to the Netherlands increased by 19.5% - to $ 79.1 million, with an increase in imports of goods from the Netherlands by 18.8% - to $ 20.9 million, against a downtrend a year earlier in both cases - exports by 31% and imports by 19. 2%. The export of Armenian goods to Belgium jumped by 73.3% - to $ 31.8 million, while the import of goods from Belgium increased by 53.2% - to $ 26 million, while a year earlier there was a noticeable downward trend in both items - exports by 35, 9% and imports by 46.3%.
Bulgaria is the leader in terms of the 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 ranked 4th, and the Netherlands and Bulgaria took 6th and 12th 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 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 in January-July 2021 from 21% to 5%, amounting to $ 1.02 billion.
