Tuesday, October 5 2021 18:36

ArmInfo.Russia and China hold the lead among Armenia's foreign trade partners. According to the final data of the Statistical Committee of the Republic of Armenia,  Russia holds the lead in Armenia's foreign trade turnover with a  volume of over $ 1.5 billion in January-August 2021, with the y-o-y  dynamics changed from the 0.9% decline to 11.8% growth.

Russia also retains leadership in exports and imports - $ 522.1 million and $  1.02 billion, respectively. Moreover, the y-o-y export dynamics  changed from the 15.5% decline to 30.9% growth, while the import  growth slowed down from 6.7% to 4%, against the almost equal growth  of exports and imports by 6.4% and 6.5% respectively.

The PRC, which holds the second place not only in terms of foreign  trade turnover, but also in terms of exports and imports,  is  inferior to Russia almost two times. Thus, the foreign trade turnover  between Armenia and China amounted to $ 737.5 million in  January-August. Moreover, here the y-o-y dynamics changed from the  3.9% decline to 31.9% growth. In particular, the export of Armenian  goods to China sharply accelerated the y-o-y growth from 25.7% to  84.4%, while the import of goods from China changed from the 11.5%  decline to 12.7% growth. Exports totaled $ 276.05 million and imports  $ 461.4 million.

Iran is in the third place in terms of foreign trade turnover with  Armenia, keeping the same place in imports. Foreign trade turnover  between Armenia and Iran amounted to $ 297.8 million in  January-August, with an acceleration of growth from 5% to 15.3%. In  particular, the volume of exports of Armenian goods to Iran amounted  to $ 40.7 million alone, with a deterioration in y-o-y dynamics from  8.8% growth to a 28.9% decline, and imports from Iran - $ 257.1  million, with an acceleration of growth from 3.9% up to 27.9%.

Switzerland ranks fourth in terms of foreign trade turnover with  Armenia - $ 240 million in January- August, with a deterioration in  y-o-y dynamics from 14.2% growth to 31.1% decline. But in terms of  exports, Switzerland remains on the third place - $ 220.5 million,  despite the deterioration in dynamics from 24.6% growth to 35%  decline. At the same time, the y-o-y dynamics of imports of goods  from Switzerland changed from the 72.9% decline to the 2.2-fold  increase - up to $ 19.5 million.

Italy moved up to the fifth place among the foreign trade partners of  Armenia, surpassing Bulgaria and Germany  (the sixth and seventh  places respectively ). The turnover of goods and services with Italy  in January-August exceeded $ 182.7 million, thanks to the release of  the  y-o-y dynamics from the 17.1% decline to 21.9% growth. However,  in terms of imports, Italy occupies the fourth place - $ 145.4  million (with the change of the y-o-y dynamics from a 10.7% decline  to 16.5% growth), while the export volumes of Armenian goods to Italy  is too modest - $ 37.3 million despite a more tangible improvement in  y-o-y dynamics - from 38.8% decline to 48.9% growth.

Among the leading five foreign trade partners of Armenia, the share  in the total turnover was reduced on an y-o-y terms by Russia - from  31% to 30.7% and Switzerland - from 7.8% to 4.8%, and China increased  - from 12.6% to 14.7%, Iran - from 5.8% to 6% and Italy - from 3.4%  to 3.7%.

The negative foreign trade balance of Armenia with Russia decreased  in January-August 2021 by 14.6% to $ 493.8 million, with China - by  28.6% to $ 185.4 million, with an increase in this indicator towards  Iran by 50.5% to $ 216.3 million and Italy - by 8.4% to $ 108.1  million. The balance of foreign trade between Armenia and Switzerland  is positive - $ 201 million with a y-o-y decline of 39.1%.

In January-August 2021, in addition to Switzerland, among the  countries of Armenia's trading partners, foreign trade surplus is  recorded by Bulgaria ($ 148.7 million), Iraq ($ 94.4 million), the  Netherlands ($ 79.98 million), the United Arab Emirates ($ 26.2  million), Belgium ($ 6.01 million), Kazakhstan ($ 3.5 million),  Kyrgyzstan ($ 1.3 million) and Slovakia ($ 1.2 million).  In total,  Armenia's foreign trade turnover in January-August 2021 amounted to $  5 billion, with a y-o-y growth of 12.7% (against a 10.2% decline a  year earlier). In particular, the growth in export volumes by 21.8%  to $ 1.9 billion was accompanied by an increase in imports by 7.7% to  $ 3.1 billion, while a year earlier both items were in decline -  exports by 6% and imports by 12.4%.  Armenia's foreign trade turnover  with the EAEU countries in January-August 2021 amounted to $ 1.6  billion, with an acceleration in y-o-y growth from 0.1% to 11%,  against the background of export dynamics changing from a 14.6%  decline to 30.8% growth - to $ 543.7 million, with a slowdown in  import growth from 7.6% to 2.9% - to $ 1.1 billion.

And Armenia's foreign trade turnover with the EU countries in  January-August 2021 changed from the 21.3% decline to 22.8% growth,  amounting to $ 1.01 billion, against the background of an improvement  in the y-o-y dynamics of exports and imports from 25.3-18 .8% decline  for 49.9-7.9% growth - to $ 437.4 million and $ 571.2 million,  respectively.  As a result, Armenia's negative foreign trade balance  slowed down the y-o-y decline in January-August 2021 from 22.6% to  9.3%, amounting to $ 1.2 billion. In particular, the negative foreign  trade balance of Armenia with the EAEU countries in January-August  2021 decreased by 16 .3% per annum to $ 506.9 million, and with the  EU countries - by 43.7% to $ 133.8 million