Armenia’s foreign trade grows 3.1% in Jan-Aug 2014 to about $3749.8 million

YEREVAN, September 30. /ARKA/. Armenia’s foreign trade turnover grew 3.1% in Jan-Aug 2014, compared with the same period a year before, to about $3749.8 million, the National Statistical Service of Armenia reports in its official website. 

The country’s exports totaled $962.4 million in late August 2014 showing 1.1% year-on-year growth in Jan-Aug 2014, and imports grew 3.8% to $2787.4 million. As a result, negative balance amounted to $1825.1 million.  

According to preliminary statistical reports, adverse balance of Armenia’s foreign trade turnover in FOB prices (a shipping term which indicates that the supplier pays the shipping costs, and usually also the insurance costs, from the point of manufacture to a specified destination, at which point the buyer takes responsibility - ARKA) amounted to $1395.8 million in Jan-Aug 2014.

Figures show that mineral products, basic metals and goods made of them, final food products, precious and semiprecious stones, precious metals and articles made of them dominated Armenia’s exports in Jan-Aug 2014.   

Mineral products worth $249 million were sent out of the country over the mentioned period (a 10.2% year-on-year decline), basic metals and goods made of them – about $203.9 million (a 4.3% decline), final food products –  about $201 million (a 10.5% growth), precious and semiprecious stones and articles made of them - $150.1 million (a 24.7% growth). 

Mineral products - $518.9 million (a 3.9% year-on-year decline); machines, equipment and mechanisms $368.3 million (a 12.1% growth), aircrafts and water transport $245.3 million (a 6.7% growth), chemical and related industries’ products $226.2 million (1% decline) and final food products $219.9 million (5.5% decline) dominated the country’s imports in Jan-Aug 2014. ($1 – AMD 408.36). ---0----