Thursday, July 8 2021 11:13

ArmInfoArmenia's foreign trade turnover with the EAEU countries in January-May 2021 compared to the same period of 2020 increased by 11.1% (against 3.2% growth a year  earlier), amounting to $ 909.2 million, as evidenced by the final  data of the RA Statistical Committee.

According to statistics, the negative balance of Armenia's foreign  trade with the EAEU countries in January-May 2021 amounted to $ 308.6  million, decreasing in y-o-y terms by 14.2% (against growth by 34.1%  a year earlier) against the background of export growth by 31% to $  300.3 million with an increase in imports by 3.4% to $ 608.9 million  (against an increase in imports by 11.3% and a decline in exports by  13.8% a year earlier).

The growth trend of Armenia's foreign trade with the EAEU countries  was conditioned by Russia, Kazakhstan and Kyrgyzstan, and this  tendency towards Belarus has decreased. In particular, the foreign  trade turnover of Armenia with Russia accelerated the yo-y growth  from 3.1% to 11.9%, with Kazakhstan - from 13.8% to 67.5%, with  Kyrgyzstan from the 32.8% decline to 81% growth, and with Belarus, on  the contrary, reversed the dynamics from 5.5% growth to 18.8%  decline.

Russia holds the lead both in terms of the total volume of foreign  trade turnover ($ 879.8 million) and in exports and imports ($ 288.7  million and $ 591.1 million, respectively). Exports with Russia  brought the y- o-y dynamics from the 14.6% decline to 31.4% growth,  while the import growth slowed down from 11.6% to 4.3%.

In the structure of Armenia's foreign trade with the EAEU countries,  Belarus, Kazakhstan and Kyrgyzstan follow in terms of volume after  Russia - $ 22.6 million, $ 5.8 million and $ 1.1 million,  respectively.  The export of Armenian goods to Belarus decreased by  6.7% to $ 6.6 million, while imports in this direction dropped by  22.8% to $ 16.03 million, against the growth of these indicators a  year earlier - exports by 19.9% and imports by 2%. In the direction  of Kazakhstan, exports increased 2-fold to $ 4.05 million with an  increase in imports by 17.7% to $ 1.7 million, against  multidirectional dynamics a year earlier - a decline in exports by  0.1% and an increase in imports by 39.4%. The export of Armenian  goods to Kyrgyzstan increased 2.1 -fold  to $ 1.01 million with a  decline in imports by 54.4% to $ 44.1 thousand, while a year earlier  a significant increase was observed in imports (by 38.4%) with an  almost similar decline in exports ( by 37.2%).

The share of Armenia's foreign trade turnover with the EAEU countries  in the total structure of foreign trade amounted to 31.8% in  January-May 2021 against 31.9% in the same period of 2020. Moreover,  the share of Russia increased from 30.7% to 30.8%, Belarus -  decreased from 1.1% to 0.8%, Kazakhstan - increased from 0.1% to  0.2%, and Kyrgyzstan - increased from 0 .02% to 0.04%. Namely, in the  structure of Armenia's foreign trade with the EAEU countries, the  share of Russia is 96.8%, Belarus - 2.5%, Kazakhstan - 0.6%,  Kyrgyzstan - 0.1%.

In total, Armenia's foreign trade turnover in January-May 2021  amounted to $ 2.9 billion, with a y-o- y growth of 11.6% (against an  11.2% decline a year earlier). In particular, the growth in exports  by 20.8% to $ 1.1 billion was accompanied by an increase in imports  by 6.7% to $ 1.8 billion, while a year earlier both items were in  decline - exports by 8.1% and imports by 12.8%. As a result, the  negative foreign trade balance of Armenia slowed down they-o-y  decline from 17.7% to 9.8%, amounting to $ 694.9 million in  January-May 2021.