Russia leads both in export and import in Armenia`s foreign trade  turnover

ArmInfo. Russia holds the lead in Armenia's foreign trade turnover in January-November 2021with a volume of more than $ 2.3 billion, with a change in y-o-y dynamics from the 2.8% decline to 18.4% growth, which turned out to be higher  than the rates of the same period of 2019, when the 12.6% growth was  registered.

Russia retains leadership not only in this indicator, but  also in exports and imports - $ 764.9 million and $ 1.55 billion,  respectively, the y-o-y dynamics of which also improved, manifested  in exports by a reversal from 11.1% decline to 26.6% growth, and for  imports - accelerated growth from 1.4% to 14.7%, and these rates also  exceeded the pre-COVID upward 10.8% and 13.6%, respectively. This is  evidenced by the data of the RA Statistical Committee.

China continues to occupy the second place in Armenia's foreign trade  turnover - $ 1.12 billion, with a tangible acceleration in growth  from 4.7% to 28.8% (against 17.4% growth in the same period in 2019),  while securing 2- place in both exports and imports. In particular,  the volume of exports of Armenian goods to China slowed down growth  from 59% to 41.5% (against 71% growth two years earlier) to $ 360.8  million, while the dynamics of imports changed from 8.4% decline to  23.6 % growth (against 9.2% growth two years earlier) to $ 756.4  million

Iran moved to the third place in Armenia's foreign trade turnover - $  442.9 million, due to the change in the y-o-y dynamics of volume from  a decrease of 0.6% to an increase of 22.2% (against 9.1% growth two  years earlier). In particular, the volume of exports of Armenian  goods to Iran amounted to $ 55.15 million with a deterioration in a  y-o-y dynamics from 5% growth to 30.8% decline (against a 14.6%  decline two years earlier), and imports of goods from Iran - $ 387.7  million (3rd place) with a change in trend from 2.1% decline to 37.2%  growth (against 17.8% growth two years earlier).

This moved Switzerland from the previously held 3rd place to 4th in  Armenia's foreign trade turnover - $ 326.5 million, as a result of  the acceleration of the y-o-y decline from 0.9% to 24.8% (against  5.3% growth two years earlier). In particular, the volume of exports  of Armenian goods to Switzerland changed the y-o-y dynamics from 5.3%  growth to 28% decline (against 35.4% growth two years earlier),  amounting to $ 303.3 million (3rd place), at the same time, imports  came out of a 66.9% decline by 82.2% growth (against a 68.7% decline  two years earlier), amounting to $ 23.15 million.

Italy moved to the fifth place in the foreign trade turnover of  Armenia - $ 262.6 million, leaving Germany to the sixth place ($  253.8 million). And this was the result of an improvement in the  y-o-y dynamics from a 31.6% decline to 24.1% growth (versus a 5.2%  decline in the same period in 2019). In particular, the volume of  exports of Armenian goods to Italy amounted to $ 57.4 million, with  the conclusion of the y-o-y dynamics from a 20.4% decline to 52.8%  growth (against a 51.8% decline two years earlier), with imports to  the volume of $ 205.2 million (4th place), with a reversal of the  ay-o-y dynamics from 33.9% decline to 17.8% growth (with the  restoration of the upward trend in the same pre-COVID period -  17.6%).

After Russia in the TOP-3 in terms of exports, the second and third  places are taken by China and Switzerland, and in terms of imports by  China and Iran.

The share of Russia on a y-o-y terms in Armenia's foreign trade  turnover increased from 30.7% to 31.2%, China - from 13.6% to 15.1%,  Iran - from 5.7% to 6.0%, Italy - from 3.3% to 3.5%, while the share  of Switzerland, on the contrary, decreased - from 6.8% to 4.4%.

An increase in the negative balance of Armenia's foreign trade was  recorded in the direction of Russia - by 5.2% to $ 784 million, China  - by 10.8% to $ 395.6 million, Iran - by 63.9% to $ 332.6 million,  Italy - by 8.3% to $ 147.9 million. The balance of foreign trade  between Armenia and Switzerland is positive - $ 280.2 million with a  y-o-y decline of 31.5%. Among the countries of Armenia's trade  partners, in addition to Switzerland, a positive foreign trade  balance is recorded by: Bulgaria ($ 165.2 million), Iraq ($ 152.7  million), the Netherlands ($ 135.7 million), the United Arab Emirates  ($ 33.7 million), Slovakia ($ 4.5 million), Kazakhstan ($ 2.5  million) and Kyrgyzstan ($ 1.96 million).

In total, Armenia's foreign trade turnover in January-November 2021  exceeded $ 7.4 billion, with an output of 16.6% growth (out of a  12.4% decline a year earlier, against a 7.4% growth of 7.4% two years  ago). In particular, the growth in export volumes turned out to be  slightly more significant - by 19.4% to $ 2.7 billion, than imports -  by 15.1% to $ 4.7 billion. In comparison with the dynamics of a year  ago, the export and import output from the 5.2-15.9% decline was  recorded, and even an excess of the upward rates of the same period  of 2019 was noted, when the growth of these indicators was 9-6.6%.   Armenia's foreign trade turnover with the EAEU countries in  January-November 2021 amounted to $ 2.4 billion, with an improvement  in ay-o-y dynamics from a 2% decline to 18.2% growth (against 12.8%  growth in the same period of 2019), against the background of  accelerated growth in imports from 2.5% to 14.1% - to $ 1.6 billion  and a reversal of the export trend from a 10.7% decline to 27.4%  growth - to $ 801.1 million, while the same period of 2019, an  increase in imports by 13.9% was accompanied by a decline in exports  by 10.7%. 

And Armenia's foreign trade turnover with the EU countries in  January-November 2021 reached 24.4% growth (after accelerating the  decline in 2020 to 22.8% from 7.6% in 2019), exceeding $ 1.4 billion,  against the background of export and imports by 57.2-8.1% growth  (from a 29.5-18.9% decline a year earlier) - to $ 604.6 million and $  834.9 million, respectively, against a 14.2-3.5% decline in the same  period of 2019.  As a result, the negative foreign trade balance of  Armenia increased in January-November 2021 by 9.7% per annum (against  a 26.5% decline a year earlier and 4.4% growth two years ago),  amounting to $ 1.996 billion. In particular, the negative balance of  Armenia's foreign trade with the EAEU countries, having increased by  3.4% in 11 months of 2021 (against growth by 16.6% a year earlier and  17.5% two years earlier), amounted to $ 807.1 million, and the  negative foreign trade balance Armenia's trade with the EU countries,  having decreased by 40.7% over 11 months of 2021 (against a 4.3%  decline a year earlier and a 13.5% growth two years ago), amounted to  $ 230.3 million