Armenia's foreign trade doubles in first half of 2024 to over $18.4bn.
Armenia#39;s foreign trade in January-June 2024 has doubled year-on-year to over $18.4 billion, the National Statistical Committee reported. br /
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YEREVAN, 6 August. /ARKA/. Armenia's foreign trade in January-June 2024 has doubled year-on-year to over $18.4 billion, the National Statistical Committee reported.br
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It said trade with Russia stood at about $8.4 billion, an increase of 2.6 times compared to the first six months of 2023).
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Armenia’s trade with EU countries slashed by 23. 7% to over $1 billion. The five largest trade partners were Germany ($225.8 billion, 35.2% decline), Italy ($198 million, 1.1% decline), the Netherlands ($82 million, 60.2% decline), Belgium ($79.4 million, 21.1% growth), and France ($68.4 million, 14.9% decline).
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Other major trade partners were the UAE ($3.7 bln, 7.5 times growth), China ($1.4 bln, 41.9% growth), Iran ($323 million, down 6.8%), USA ($234 million, down 40%), Georgia ($131.7 million, up 2.7%), Iraq ($87.6 million, down 13.1%), Switzerland ($85.3 million, up 44%) and Republic of Korea ($66.7 million, down 28.8%).
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iExports/i
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Exports increased 2.3 times, to about $8 billion. Exports to Russia fell by 21% to $1.4 billion. Exports to the European Union decreased by 25.1% to $282 million. The first three countries in terms of exports were the Netherlands ($56.6 million, decrease by 66.9%), Belgium ($54.2 million, increase by 52.7%), and Bulgaria ($41 million, increase by 23.9%).
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Other countries with the highest export from Armenia were the UAE ($3.7 billion, 7.8-fold growth), China ($714. million, 3.4-fold growth), and Bulgaria ($41 million, 3.4-fold growth), Iraq ($87.5 million, decrease by 12.7%), Georgia ($74 million, decrease by 2.7%), Switzerland ($54.5 million, increase by 36.2%), Iran ($53 million, decrease by 5.3%) and USA ($28.3 million, increase by 21.9%).
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According to statistics, exports of precious metals and articles totaled $5.6 billion, up 8.1 times compared to January-June 2023, machinery, equipment and mechanisms-$609 million, down 2.4%, mining industry products - $493 million, up 18.6%, finished food - $400 million, down 4.5%, textiles - $171 million, up 3%.
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iImports/i
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Imports to Armenia in the first six months of 2024 totaled over $10.4 billion, registering a growth of 86.5% compared to the first half of 2023.
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Imports from Russia totaled over $7 billion, 4.7 times growth. Imports from the EU countries decreased by 18.5% to $923 million. The first three countries in terms of imports were Germany ($201 million, down 32.9%, Italy ($156 million, down 3.2% and the Netherlands ($99.3 million, up 9.9%).
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Imports from China totaled $443 million, down 1%), from Georgia -$346 million, down 31.4%, Iran ($273 million, down 7.1%, UAE -$233 million, down 25.4% and the United States -$201.3 million, down 58.5%.
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The bulk of imports were precious and semi-precious stones - $6 billion, 9.4 times growth, machinery, equipment and mechanisms - $1.2 billion, 0.6% growth, mining industry - $515 million, 5.6% decline, land, air and water vehicles - $432 million, down 57.8%, products of chemical and related industries - $388 million, up 21.6%, textiles and textile products - $309.7 million, up 7.8%, finished food products - $299 million, up 3.1% and non-precious metals and articles - $253.7 million, down 12.7%. -0-
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