Wednesday, September 8 2021 15:39

ArmInfo.Armenia's foreign trade turnover with the EU countries in Jan- July 2021 reached 21.8% growth (from a 21.9% decline a year earlier), amounting to $ 853.5  million. The negative balance of Armenia's foreign trade with the EU  countries amounted to $ 142.8 million, with an annual decline of  27.4% (against a 13.7% decline in the same period in 2020).

This was due to the improvement in the annual dynamics of exports and imports,  which demonstrated growth, and the export rates were much faster than  imports - 41.1% versus 11.1% (versus 24-20.6% decline a year  earlier), the absolute value of which reached $ 355.4 million and $  498.1 million, respectively. This is evidenced by the final data of  the RA Statistical Committee.  As a result, the share of Armenia's  foreign trade turnover with the EU countries in the overall structure  of foreign trade increased in y-o-y terms from 18.7% to 19.8%.

In the structure of Armenia's foreign trade with the EU countries,  the largest share falls on Germany - 18.5% or $ 157.8 million (with  the release of the annual dynamics from 33.3% decline to 16.7%  growth), Italy - 18.1% or $ 154.7 million (with the release of the  annual dynamics from the 21.5% decline to 24.9% growth), Bulgaria -  16.5% or $ 140.7 million (with a reversal of the annual trend from  13.7% decline to 32,7% growth), the Netherlands - 11.7% or $ 99.95  million (with the release of the annual dynamics from 28.9% decline  to 19.3% growth), and Belgium - 6.8% or $ 57.8 million (with a  reversal of the annual trend from 41.4% decline to 63.6% growth).   The negative balance of foreign trade between Armenia and Germany  decreased by 12% to $ 68.2 million, while with Italy, on the  contrary, increased by 8.2% to $ 89.6 million. As for the positive  balance of foreign trade between Armenia and Bulgaria, an increase  was observed by 36.8% to $ 118.9 million, with the Netherlands - by  19.5% to $ 58.2 million, with Belgium - a jump of 4.1-fold to $ 5.8  million, and besides them, Slovakia showed a positive indicator among  the countries-trade partners from the EU - $ 264.8 thousand (with an  annual exit from negative level to positive).

Exports of Armenian goods to Germany increased in y-o-y terms by  55.1% - to $ 44.8 million, with an increase in imports of goods from  Germany by 6.2% - to $ 113 million, while a year earlier, a decline  in exports of 28.6% was recorded and imports by 34.5%. The export of  Armenian goods to Italy increased by 58.8% - to $ 32.6 million, with  an increase in imports of goods from Italy by 18.2% - to $ 122.2  million, while a year earlier there was a decline in exports by 39.9%  and imports by 16.4%. The export of Armenian goods to Bulgaria  increased by 34.6% - to $ 129.8 million, with an increase in imports  of goods from Bulgaria by 13.9% - to $ 10.9 million, against the  decline in both indicators a year earlier - exports by 8.2% and  imports by 46. 3%. Exports of Armenian goods to the Netherlands  increased by 19.5% - to $ 79.1 million, with an increase in imports  of goods from the Netherlands by 18.8% - to $ 20.9 million, against a  downtrend a year earlier in both cases - exports by 31% and imports  by 19. 2%. The export of Armenian goods to Belgium jumped by 73.3% -  to $ 31.8 million, while the import of goods from Belgium increased  by 53.2% - to $ 26 million, while a year earlier there was a  noticeable downward trend in both items - exports by 35, 9% and  imports by 46.3%.

Bulgaria is the leader in terms of the export of Armenian goods to  the EU countries, the Netherlands is in second place, Germany is  third, Italy is fourth, and Belgium is fifth. In terms of import  volume, Italy, Germany and France remained in the TOP-3 among the EU  countries, Belgium ranked 4th, and the Netherlands and Bulgaria took  6th and 12th positions. It is pertinent to note that France could not  stay in the TOP-5 in terms of foreign trade turnover, having shifted  to the 6th position only due to a slight shortfall in volume, thereby  yielding the 5th position to Belgium.

In total, Armenia's foreign trade turnover in January-July 2021  amounted to $ 4.3 billion, with an annual growth of 15.1% (against an  11.3% decline a year earlier). In particular, the growth in exports  by 23.2% to $ 1.6 billion was accompanied by an increase in imports  by 10.6% to $ 2.7 billion, while a year earlier both items were in  decline - exports by 6.4% and imports by 13.7 %. As a result,  Armenia's negative foreign trade balance slowed down the annual  decline in January-July 2021 from 21% to 5%, amounting to $ 1.02  billion.