Armenia's foreign trade in 5 months of 2023 soars by 86.9% to over $7.3 bln.

YEREVAN, July 7. /ARKA/. Armenia's foreign trade in January-May 2023 surged by 86.9% from the same time span of 2022 to over $7.3 billion,, according to the numbers, released by the National Statistical Committee (NSC).
In May 2023 alone the foreign trade was worth over $1.5 billion, an increase of 50.5% compared to May 2022 and an increase of 2.3% compared to April 2023.
Armenia's trade with Russia doubled to over $2.5 billion, trade with Belarus also doubled to over $80 million, while trade with Ukraine grew by 15% to over $38 million.
Armenia's trade with EU countries grew by 50.3% to about $1.2 billion. The trade with Germany grew by 93% to $294. 9 million, trade with the Netherlands grew by 44.8% to over $172 million, trade with Italy grew by 46.1% to $163.7 million, trade with Poland grew by 3.5 times to $101.3 million and trade with France soared by 87.9% to $66.5 million.
The trade with China upped by 49.3% to $812.5 million, trade with the UAE grew by more than 5 times to $465.1 million, trade with the USA upped 2.4 times to $308 million, trade with Iran grew by 15.2% to $283.1 million, trade with Japan grew by almost 6 times to $182.4 million, trade with Georgia grew by 11.6% to $105.4 million, trade with Iraq fell by 2.4% to $86.1 million and trade with Republic of Korea almost tripled to $75,8 million.
Exports
Armenian exports in January-May 2023 increased by 93.3% from January-May 2022 to about $2.7 billion, In May 2023 alone, exports grew by $526.7 million, an increase of 47.6% compared to May 2022. Compared to April 2023 it was down 2.1%.
Armenian exports to Russia more than tripled to over $1.3 billion, exports to Belarus also more than tripled to over $38.4 million, and exports to Kazakhstan grew by 4.1 times to over $15.3 million.
Exports to the EU countries fell by 12.9% to $305.5 million, exports to the Netherlands upped by 43.2% to over $142.4 million, exports to Germany dropped by 14.2% to about $40 million and exports to Belgium declined by 24.1% to about $24 million.
Armenian exports to the UAE surged six-fold to $445 million, exports to China grew by 17% to $166.3 million exports to Iraq upped by 16.7% to $166.3 million,
Exports to Georgia upped by 45% to $64.2 million, exports to Iran grew by 5.1% to $43.3 million; exports to Switzerland fell by 69% to $35.4 million and exports to the United States dropped by 47.2% to $19.6 million.
The bulk of Armenian exports were precious and semi-precious stones, which grew by 3.4 times to $621.4 million, machines, equipment and mechanisms, which grew by 12.3 times to $ 473.1 million, finished food products, which upped by 35% to $344.6 million, mining industry products, which upped by 26% to $328.1 million, land, air and water vehicles, which grew by 16.7 times to $281.1 million and textiles, which grew by 50.5 % to $112.3 million.
Imports
Armenian imports in the first five months of 2023 totalled over $4.6 billion, registering an increase of 83.3% compared to January-May 2022. In May 2023, imports surged by 52.2 % from May 2022 to $998.9 million. Compared to April 2023 imports were up 4.8%.
Imports from Russia upped by 39% to over $1.2 billion, imports from Belarus grew by 53% to $45.3 million and imports from Ukraine grew by 17% to $36.3 million.
Imports from the EU countries rose by 93.5% to $932.8 million. Imports from Germany grew by 2.3 times to $253.7 million, imports from Italy grew by 70% to $128.1 million and imports from the Netherlands grew by 84.4% to $75.8 million.
Imports from Georgia more than doubled to $411.9million, imports from the USA grew almost 4 times to $382.3 million, imports from China grew by 38.5% to $356.4 million, imports form the UAE grew by 4 times to $248 million and imports from Iran upped by 21.2% to $242.1 million.
The bulk of imports were machinery, equipment and mechanisms, which grew by 2.6 times to $992.5 million, land, air and water vehicles, which upped by more than 5 times to $879 million, precious and semi-precious stones, which grew four-fold to $564.1 million, mining products, which fell by 3% to $448.8 million and textiles, which upped by 73.3 % to $226.5 million.