Armenia’s foreign trade grows to about $3, 289.5 million in January-July

YEREVAN, September 1. /ARKA/. Armenia’s foreign trade turnover grew
3.5% in Jan-July 2014, compared with the same period a year before, to
$3,289.5 million, the National Statistical Service reports.

According to the statistical report, the country’s exports totaled
$847.5 million in Jan-July 2014 showing 2.8% year-on-year growth, and
imports hiked by 3.7% to about $2,442 million. As a result, the
foreign trade adverse balance amounted to $1,594.5 million.

Negative balance in FOB prices amounted to $1,218.5 million in
January-July. (FOB or Free On Board is a trade term requiring the
seller to deliver goods on board a vessel designated by the buyer. The
seller fulfills its obligations to deliver when the goods have passed
over the ship’s rail.)

According to the statistical report, the most substantial export items
in the period were as follows: mineral products – about $218.2mln
(7.3% reduction against January-July 2013), ready foods – about
$178.8mln (15.1% increase), non precious metals and products – around
$178mln (5.6% reduction), precious and semi-precious stones and
precious metals and jewelry – $136.9mln (28.2% increase).

According to official statistics, the following items prevailed in the
country’s imports in January-July: mineral products – about $461.9mln
(4.6% year-on-year decrease), machinery and equipment – $320.9mln
(11.3% increase), ground vehicles, air transport and water crafts –
$221.6mln (9.3% increase), chemical and related industries – about
$201.1mln (0.1% reduction), ready foods – about $197mln (5.1%
decrease). ($1- AMD 411.23). -0–