ArmInfo.The share of Russia in the foreign trade turnover of Armenia in January-February 2022 compared to January-February 2021, increased from 31.6% to 33.5%, while the EU's share decreased from 20.3% to 18.3%. Moreover, Russia continues to hold the lead not only in terms of the total volume of foreign trade, but also in terms of exports and imports, having increased its share in exports from 28.7% to 29.4% and in imports from 33.4% to 35.7%.
At the same time, the share of the EU in exports only slightly increased from 21.2% to 21.4%, while in imports it decreased from 19.7% to 16.6%. This is evidenced by the data of the RA Statistical Committee.
The following European countries have reduced their share in foreign trade with Armenia, particularly in terms of both exports and imports: Germany (down to 3.8%), Italy (up to 2.6%), Bulgaria (up to 1.6%), France (up to 0.8%), Poland (up to 0.6%), Finland and Greece (up to 0.2%), Czech Republic (up to 0.1%), The Netherlands (up to 3.3%), Spain (up to 1.5%), Belgium (up to 1.3%), Romania (up to 0.6%), Sweden (up to 0.3%), Lithuania (up to 0.2%).
In January-February 2022, the volume of foreign trade between Armenia and Russia exceeded $475.2 million, with a fixed improvement in y-o-y dynamics with an change from a 12.5% decline to a 61.4% increase. In particular, the volume of exports, having sharply accelerated y-o-y growth from 2.2% to 43.1%, reached $147.9 million, and imports, having reversed from the 18.5% decline to 71.2% growth, reached $327.4 million.
China continues to occupy the second place in terms of total volume of foreign trade in general, and in terms of exports and imports, particular. Thus, the volume of foreign trade turnover between Armenia and China in January-February 2022 exceeded $206.7 million, with a noticeable acceleration in y-o-y growth from 6.8% to 48.3%. In particular, the volume of exports of Armenian goods to China slowed down the y- o-y growth from 3.4-fold to 7.2%, amounting to $58.5 million (2nd place), while the volume of imports changed the trend from the 25.9% decline to the 74.8% growth, amounting to $148.3 million (2nd place).
Iran occupied the third place in the foreign trade turnover of Armenia - $90.7 million, with the change of the y-o-y dynamics from a 0.3% decline to a 55.6% growth. In particular, the volume of exports of Armenian goods to Iran amounted to $17.7 million with a 2.4-fold sharp increase (against a 45.7% decline a year earlier), and imports of goods from Iran - $73 million (3rd place) with an acceleration of y-o-y growth from 13% to 43%.
This kept Switzerland in the fourth place in Armenia's foreign trade turnover with a volume of over $58.9 million, with a change in y-o-y dynamics from a 25.9% decline to a 42.1% growth. In particular, the volume of exports of Armenian goods to Switzerland increased by 38.4% (from 26.4% decline a year earlier), amounting to $54.8 million (3rd place), and the same reversal of y-o-y dynamics was observed in imports- from a 15.4% decline to a 2.2-fold increase to $4.1 million.
Germany held the fifth place in Armenia's foreign trade turnover - $54.5 million, due to the acceleration of y-o-y growth from 21.6% to 45.3%. In particular, the volume of exports of Armenian goods to Germany amounted to $15.2 million (with an acceleration of y-o-y growth from 20% to 30.9%), while imports in the amount of $39.3 million (with an acceleration of y-o-y growth from 22.3% to 51.6%).
In addition to Russia, of the above-mentioned top five trading partner countries of Armenia, Iran also increased its share in foreign trade turnover in y-o-y terms - from 6.2% to 6.4%, while the other four, on the contrary, reduced their share: China - from 15% to 14.6%, Switzerland - from 4.4% to 4.2%, Germany - from 4% to 3.8%. In particular, in addition to Russia, Iran also increased its share in total exports - from 2% to 3.5%, while the rest of the three distinguished themselves by reducing their share: China - from 15.2% to 11.6%, Switzerland - from 11% to 10.9%, Germany - from 3.2% to 3%. And in the total volume of imports, along with Russia, China increased its share - from 14.8% to 16.2% and Switzerland - from 0.3% to 0.4%, while Iran and Germany reduced their shares from 8.9 % and 4.5% to 8% and 4.3% respectively.
An increase in the negative balance of Armenia's foreign trade was registered in the direction of Russia - 2- fold to $179.5 million, China - 3-fold to $89.8 million, Iran - by 26.2% to $55.3 million, Germany - by 68.3% to $24.2 million. Armenia's foreign trade with Switzerland is positive - $50.7 million, with y-o-y growth of 34.2%. Among the countries of Armenia's trading partners, a positive foreign trade balance is recorded, in addition to Switzerland, Iraq ($34.4 million), Bulgaria ($17.2 million), the Netherlands ($37.1 million), the United Arab Emirates ($3.8 million), Slovakia ($1.7 million), Kazakhstan ($842.3 thousand), Kyrgyzstan ($592.9 thousand). Armenia's foreign trade with Georgia ($4.2 thousand), Belgium ($1.8 million), Turkmenistan ($1.03 million) and Cyprus ($200.5 thousand) also entered a positive balance, and, conversely, foreign trade with the United States ($12.3 million) and Lithuania ($1.1 million) changed to a negative balance.
In total, Armenia's foreign trade turnover in January-February 2022 amounted to $1.4 billion, an increase of 52.4% per annum (against a 12.2% decline a year earlier). In particular, the growth in imports turned out to be more significant - by 60.2% to $917 million, than exports - by 40.1% to $503.7 million, against a decline in these items a year earlier, respectively, in imports by 15.8% and exports by 5.5%. As a result, the negative balance of Armenia's foreign trade doubled, reaching $413.3 million in January-February 2022.
The share of the EAEU in the foreign trade turnover of Armenia increased in January-February 2022 to 34.6%, and in general with the CIS countries - up to 36.7%. Armenia's foreign trade turnover with the EAEU countries in the reporting period amounted to $491.2 with a y-o-y growth of 62.3%, and with the EU countries - $259.9 with y-o-y growth of 37.6%. Moreover, exports to the EAEU countries increased by 42.7% to $153.1 million, with an increase in imports by 73% to $338.1 million, and exports to the EU countries increased by 41.3% to $107.7 million, with an increase in imports by 35.1% to $152.2 million The negative balance of Armenia's foreign trade with the EEU countries has doubled, reaching $185.1 million by March, and with the EU countries increased moderately - by 22.2% to $44.5 million
