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
