Armenia’s foreign trade drops to $1,558.8 million in five months

YEREVAN, June 30. /ARKA/. Armenia's foreign trade in the first five months of 2015 slashed by 32.3% from the same time span a year ago to about $1,558.8 million, according to the latest figures, released today by the National Statistical Service (NSS).

The National Statistical Service said, however, that the data is incomplete and is subject to adjustments because of absence of some figures relating to trade with members of the Eurasian Economic Union.

According to official data, Armenia's exports in January-May 2015 were down 15.2% year-on-year to $488.6 million, while imports plunged by 38 percent to $1,070.2 million. The resulting negative trade deficit stood at $581.5 million. In FOB prices the negative trade deficit was $416.7 million.

Armenia's foreign trade turnover with former Soviet republics making the Commonwealth of Independent States (CIS) in the reporting period dropped 51.8% to approximately $305.7 million (19.6% of the total trade).

Trade with Russia declined by 54.6% to $242.7 million; trade with Ukraine fell by 32.7% to $50 million; trade with Belarus shrank by 89.8% to about $ 1,359,200.

Trade with EU countries fell by 28.6% to $462.2 million making 29.7% of the total trade. Trade with other countries dropped by 22.4% to $790.8 million accounting for 50.7%.

According to statistics, export of mining products grew by 21% to about $184.4 million, while export of basic metals and products declined by 15.2% to about $ 104.7 million.

Imports of mining products declined by 29% to about $263.4 million; imports of machinery, equipment and mechanisms fell by 38.3% to $124.6 million and import of chemical products dropped by 22.8% to $104.8 million.  ($ 1 - 472.53 drams) -0-