The Messenger, Georgia
July 5 2007
Armenian Imports Three Times Its Exports
By M. Alkhazashvili
(Translated by Diana Dundua)
>From January to May of this year, cargo turnover in Armenia increased
by 39.1 percent over the same period in 2006, reaching nearly USD 1.6
billion.
According to the news agency Regnum, the value of exported goods was
USD 423.6 million (a 24.9 percent increase) with imported goods
equaling USD 1.1 billion (a 45.3 percent increase)-meaning that
Armenia faces similar trade problems as Georgia. The amount imported
exceeds the amount exported by almost three times.
Cargo turnover with CIS states came to USD 506.8 million-33 percent
of the entire cargo turnover, exceeding the 2006 amount by 60.6
percent. The main trading partner for Armenia is Russia. Trade with
Russia reached USD 224.6 million, 14.6 percent of total trade
revenue. That’s 64.2 percent more than the 2006 value.
Trade turnover with the EU reached USD 579.2 million, chalking up
growth of 29.3 percent. Trade with the US came to USD 75.3 million, a
52.8 percent increase.
In the first five months of the year, Armenia exported USD 134.2
million in goods to CIS states-including USD 82.8 million.
Exports to the EU were worth USD 197.7 million, an increase of 7.3
percent. USD 18.7 million in goods was exported to the US.
That same period saw Armenia importing USD 322.1 million in goods
from CIS states, yet another significant increase, coming to half
again the previous years’ number. USD 209.8 million in imports came
from Russia, a 65 percent increase. Imports from EU states were worth
USD 340.5 million; from the US, USD 73.2 million.
On the map, Armenian trade with Russia should naturally go through
Georgia, but the slew of Russian travel and trade embargoes on
Georgia make it necessary for cargo to take a more roundabout route.