Armenia's foreign trade for 10 months totalled $26.2bn, growth continues to slow down
YEREVAN, 6 December. /ARKA/. Armenia's foreign trade turnover in January-October 2024 compared to the same period in 2023 grew by 67.6% to more than $26.2 billion, the National Statistical Committee reported.
Foreign trade turnover with Russia totalled $10.8bn, up 91.4% compared to the first ten months of 2023).
Trade turnover with EU countries totalled more than $1.9bn, down 14.9%. The top five trading partners were Germany ($403.1m, down 25.8%), Italy ($351.7m, up 1.4%), Belgium ($147.7m, up 11.2%), the Netherlands ($147.1m, down 47.7%) and France ($129.7m, down 2.1%).
Trade turnover with the UAE was $4. 9bn, up 5.6 times, with China -$2. 3bn, 35.5% growth, with Iran -$593.1m, 4.7% growth, with USA -$356.7m, 40.1% decrease, with Georgia -$273.8m, 27% growth, with Iraq -$189.4m, 26.2% growth.
Armenian exports rose 95.1% to $11.5bn, with exports to Russia totalling over $2.6bn, down 13.6%. The volume of exports to the EU countries in January-October this year decreased by 22.3% compared to January-October 2023, making $500.4 million. The volume of exports to the Netherlands - $99.6 million, a decrease of 56.7%, to Belgium - $99.3 million, an increase of 17.9%.
Exports to the UAE amounted to $4.8bn, a 5.9-fold increase, to China - $988.5m, a 2.8-fold increase, to Iraq - $189m, a 26.6% increase, to Georgia ($140.9m, a 17.9% increase).
The bulk of exports were precious and semi-precious stones, precious metals and articles - $7.4bn, a 5.4-fold increase compared to January-October 2023, machinery, equipment and mechanisms - $1.1bn (3.7% decrease).
Imports to Armenia made $14.7bn, increasing by 50.8% compared to January-October 2023.
Imports from Russia totalled $8.5bn, up 3 times. Imports from the EU fell 12.5% to $1.6 billion. Imports from Germany totalled $370 million, down 23%, from Italy - $283. 3 million, up 4.9 %, from the Netherlands - $154 million, up 4 %.
Imports from China totalled -$909.5 million, up 11.2%, from Georgia -$647.2 million, down 16.3%, from Iran -$513.3 million, up 3.4%), from the UAE -$371.5 million, down 23.5% and from the USA -$305.1 million, down 59.3%.
The bulk of imports were precious and semi-precious stones, precious metals and articles - $6.8bn (up 5.1 times) and machinery, equipment and mechanisms - $2.2bn (up 3.4%)-0-.
