Monday, December 6 2021 18:32
Karine Melikyan

Russia and China are Armenia`s leading trade partners in both export  and import

Russia and China are Armenia`s leading trade partners in both export  and import

ArmInfo. Russia and China are Armenia's leading foreign trade turnover partners in both exports and imports. According to the final data of the Statistical Committee of  the Republic of Armenia, Russia takes the lead in Armenia's foreign  trade turnover with a volume of more than $ 2.03 billion in  January-October 2021, with a change of y-o-y dynamics from  0.6%  decline to 14.3% growth (against 10.5% growth in the pre-COVID  comparable period).

Russia also retains leadership in exports and  imports - $ 676.1 million and $ 1.4 billion, respectively. Moreover,  the y-o-y dynamics of exports changed from the 11.1% decline to24.9%  growth, while import growth accelerated from 4.7% to 9.6%, against  the pre-COVID growth of exports and imports by 6.1% and 12.8%  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 almost  two times behind Russia. Thus, the foreign trade turnover between  Armenia and China amounted to $ 975 million in January-October, with  acceleration in ay-o-y growth from 2% to 28.2%. In particular, the  export of Armenian goods to China slowed down the y-o-y growth from  53.4% to 48.5%, and the import of goods from China changed from the  10.4% decline to 19.9% growth. Exports totaled $ 327.4 million and  imports $ 647.6 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 $ 388.7 million in January-  October, with an acceleration of growth from 0.5% to 17.6%. In  particular, the volume of exports of Armenian goods to Iran amounted  to $ 50.3 million alone with a deterioration in the y-o-y dynamics  from 3.8% growth to a 32% decline, and imports from Iran - $ 338.4  million with an improvement in the trend from 0.5% decline to 31.9%  growth. 

Switzerland ranks fourth in terms of foreign trade turnover with  Armenia - $ 282.9 million in January- October, with deterioration in  y-o-y dynamics from 4.5% growth to 30.6% decline. But in terms of  exports, Switzerland remained in third place - $ 260.7 million,  despite the deterioration in dynamics from 12.1% growth to 34.2%  decline. At the same time, the y-o-y dynamics of imports of goods  from Switzerland changed from 69% decline to 90% growth - to $ 22.2  million.

Italy took the fifth place among Armenia's foreign trade partners,  moving Germany and Bulgaria to the sixth and seventh places. The  turnover of goods and services with this country in January-October  amounted to $ 239.6 million, thanks to the change of the y-o-y  dynamics from the 11.6% decline to 22.8% growth. However, in terms of  imports, Italy occupies the fourth place- $ 188.8 million (with the  change of the y-o-y dynamics from 5.6% decline to 17.7% growth),  while the export volumes of Armenian goods to Italy look too modest -  $ 50.8 million despite a more tangible improvement in y-o-y dynamics  - from a 31.5% decline to 46.4% growth.

Among the leading five foreign trade partners of Armenia, the share  in total turnover was reduced on an y- o-y terms only by Switzerland  - from 7.1% to 4.3%, while Russia increased it- from 30.9% to 31.1%,  China - from 13.2% to 14.9%, Iran - from 5.8% to 6% and Italy - from  3.4% to 3.7%.

The negative balance of foreign trade between Armenia and Russia  decreased in January-October 2021 by 2.3% to $ 681 million, with an  increase in this indicator towards China - by 0.1% to $ 320.2  million, Iran - by 57.8% to $ 288.1 million and Italy - by 9.8% to $  138 million. The balance of foreign trade between Armenia and  Switzerland is positive - $ 238.6 million with a y-o-y decline of  38%.

Among the countries of Armenia's trading partners, in addition to  Switzerland, a positive balance of foreign trade in January-October  2021 is recorded by Bulgaria ($ 160.4 million), Iraq ($ 129.8  million), the Netherlands ($ 117.6 million), the United Arab Emirates  ($ 32 million), Belgium ($ 4.3 million), Kazakhstan ($ 3.2 million),  Slovakia ($ 2.7 million) and Kyrgyzstan ($ 1.9 million).

In total, Armenia's foreign trade turnover in January-October 2021  exceeded $ 6.5 billion, with ana y-o-y growth of 13.6% (against an  11.4% decline a year earlier). In particular, the growth in export  volumes by 16.9% to $ 2.4 billion was accompanied by an increase in  imports by 11.8% to $ 4.1 billion, while a year earlier both items  were in decline - exports by 4.4% and imports by 14.9 %.  

Armenia's foreign trade turnover with the EAEU countries in  January-October 2021 amounted to $ 2.1 billion, with an acceleration  in y-o-y growth from 0.4% to 13.9%, against the background of export  dynamics emerging from a 10.6% decline by 25.5% growth - to $ 706.2  million, while import growth accelerates from 6% to 8.8% - to $ 1.4  billion.  

And Armenia's foreign trade turnover with the EU countries in  January-October 2021 changed from a 22.4% decline to 23.2% growth,  amounting to $ 1.3 billion, against the background of an improvement  in the y-o-y dynamics of exports and imports from 28.6-18.8 % decline  by 54.6-7% growth - to $ 551.1 million and $ 740.4 million,  respectively.  

As a result, the negative foreign trade balance of Armenia turned the  y-o-y dynamics in January-October 2021 towards 5.3% growth from last  year's 25.5% decline, amounting to $ 1.7 billion. In particular, the  negative balance of Armenia's foreign trade with the EAEU countries  amounted to $ 701.6 million in January-October 2021 with a chsngr of  the y-o-y dynamics from 25.7% growth to a 4% decline, and with the EU  countries - $ 189.3 million with an acceleration of the y-o-y decline  from 1.3% to 43.6%


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