Yerevan August 31
Karina Melikyan. Year over year growth of trade turnover between Armenia and Russia slackened from 28.2% in Jan-July 2017 to 19.7% in Jan-July 2018 totaling $ 1045.9 million. Russia maintains the first place also by export and import figures-$340.3 mln and $705.6 mln respectively. Growth in imports slackened more significantly from 27.1% to 15.3% compared to exports growth slackening-from 30.9% to 29.8%.
According to data of National Statistical Service of Armenia, China continues to hold the second place by foreign trade turnover with Armenia, growing from 35.6% to 44.6% y-o-y ensuring $408.4 mln. Particularly, export of Armenian goods to China increased by 22.9% (versus 21.3% growth a year ago) to $61.2 mln amid growth of import by 49.2% (versus 39.4% growth a year ago) to $347.2 mln (maintains the second position).
Switzerland holds the third position on foreign trade turnover with Armenia with a year-over-year growth by 40.6% (against 3.7-fold growth a year earlier) to $ 272.9 million. In particular, the volume of exports of Armenian goods to Switzerland increased by 32.6% (against 4.2-fold growth in previous year) to $ 189.2 million (the 2nd position) with an increase in imports by 62.9% (against 2.7-fold growth a year earlier) to $ 83.7 million.
Russia holds leadership by volume of both exports and imports in the reported period. Switzerland and Bulgaria occupy the second and third positions respectively by volumes of export, and China and Germany are the third and the second in imports.
The volume of Armenia’s foreign trade with the EEU countries grew by 20.1% y- o-y in Jan-July 2018 to $ 1080.8 million, and with the EU countries by 36.1% to $ 1065.7 million. Moreover, the export of Armenian goods to the EEU countries increased by 31.1% up to $ 351.9 million with import growth by 15.4% to $ 728.9 million, while with EU countries, import growth prevails over export- 47.8% versus 22% to $ 633.3 million and $ 432.4 million, respectively. In terms of foreign trade turnover among the EEU countries Belarus ranks after Russia – $ 27.6 million (y- o-y growth of 20.8%), Kazakhstan – $ 6.96 million (2.6 -fold growth) and Kyrgyzstan – $ 476.7 thousand (0.7% increase). The export of Armenian goods to Belarus increased by 67.2%, and to Kazakhstan – 2.4- fold, with the growth of imports from these countries by 11.3% and 3.2 – fold respectively. Import to Kyrgyzstan grew 45.5-fold in parallel with drop of export by27.6%.
The main buyers of Armenian goods in Jan-July 2018 were Russia – 25% in total exports, Switzerland – 13.9%, Bulgaria – 10.5% and Germany – 6.8%. The main suppliers of imported products to Armenia were Russia – 25.9% in total imports, China – 12.7%, Germany – 6%, Turkey -4.8%, Iran – 4.8%. The most impressive year-over-year decline in export volumes was observed with Finland and Thailand – by 97.1-91.6%, and imports with Canada and Cyprus – by 73.5- 62.3%.
In total, the foreign trade turnover of Armenia in Jan-July 2018 increased by 26.8% y-o-y, making 1971.2 billion drams ($ 4089.8 million). In its structure, the volume of exports has experienced a y-o-y growth of 17.3% to 656.9 billion drams ($ 1363.1 million), while imports – a y-o-y growth of 32.1% to 1314.3 billion drams ($ 2726.7 million). A year earlier, in Jan-July 2017 the foreign trade turnover increased by 26% y-o-y due to the growth of exports by 21.6% and imports by 28.5%. Armenia’s economic activity in Jan-July 2018 accelerated its y-o-y growth to 9.3% from 6.2% in the same period in 2017.