Armenia's foreign trade doubles in two months of 2024 to over $5.3 billion
YEREVAN, April 5. /ARKA/. Armenia's foreign trade in January-February 2024 surged by 2 times compared to the same period in 2023 amounting to over $5.3 billion, according to the National Statistical Committee.
in February 2023, the foreign trade amounted to over $3.1 billion, increasing by 2.2 times compared to February 2022, and by 43.9% compared to January 2023.
The trade with Russia more than doubled to over $2.1 billion. The volume of trade turnover with EU countries amounted to $322. 8 million. with a decline of 19%. The five largest trading partners were Germany ($66.7 million, a decrease of 35.4% yoy), Italy ($59.4 million, an increase of 12.8%), Belgium ($36.8 million, an increase of 2. 3 times), the Netherlands ($20.1 million, down 74.2%) and France ($15.8 million, down 31.7%).
Trade with the UAE grew by more thnan 7 times to $1.2 billion; trade with China grew to $491.7 million, an increase of 84.5%), and trade with Iran fell by 16% to $88.3 million.
Exports
Armenian exports grew 2.6 times to about $2.6 billion. Exports to Russia fell by about 1% to $510.4 million. Exports to the EU dropped by about 27% to $85.1 million Exporst to Belgium grew by about 4 times to $26.3 million, exprots to the Netherlands fell by 83% to about $12 million and exports to Germany fell by 36% to $11.9 million.
Exports to the UAE grew by more than 7 times to about $1.2 billion, exports to China grew by more than 4 times to $266.4 million and exports to Iran fell by 19% to $15.6 million.
The bulk of exports -$1.8 billion- were machinery, equipment and mechanisms - $243.4 million, (an increase of 38.5%), mining industry - $147.5 million (an increase of 17.5%), finished food products - $114 million (a decrease of 9.3%).
Imports
Armenian imports amounted to over $2.7 billion, up 73.2% compared to January-February 2023. Imports from Russia grew to $1.6 billion, an increase of 3.6 times. Improts from EU fell by 15.3% to $282 6 million. Imports from Germany fell by 30% to $65.5 million, imports from Italy grew by 9.4% to $45.4 million.
Impoprts from China amounted to $132.6 million, an increase of 34.4%), from UAE to $86.1 million, an increase by 4% and imports from the USA fell to to $80.5 million, down 42.6%) and imports from Iran fell by 14% to $74 million.
The bulk of imports were precious and semi-precious stones, precious metals and products – $1.3 billion (an increase of 7.3 times), machinery, equipment and mechanisms - $427.4 million, an increase of 20.2%, mining industry - $203. 5 million an increase of 1.6%, land, air and water vehicles - $127.8 million a decrease of 55.1% -0-
