RUSSIA REMAINS UNCONDITIONED LEADER IN TRADE RELATIONS WITH ARMENIA
ArmInfo
2010-02-17 19:19:00
ArmInfo. Russia maintains its unconditioned leadership in foreign trade
turnover with Armenia. According to the data provided to ArmInfo by
the National Statistical Service, in 2009 the share of Russia made
up 22,5% of Armenia’s commodity turnover, or $901.4 mln. At the same
time, due to the crisis, as compared with 2008, the commodity turnover
with Russia fell by 14,9% as against 15,7% growth in 2008 and 65,5%
growth in 2007. The unfavorable balance of trade with Russia by the
end of 2009 amounted to $686 mln as against $634.1 mln in 2008 (6,7%
growth). To recall, alongside with import of food commodities, products
of energy sphere, including gas, are imported to Armenia from Russia.
It is noteworthy that the second place in the commodity turnover with
Armenia is held by China, whose share increased from 0,8% to 7,6% over
the past 10 years and in absolute terms amounted to $306 ln in 2009.
Due to the crisis, it fell by 20,3% as against 89,4% growth in 2008.
At the same time, in January 2010 the volumes of commodity turnover
grew by 44,4%. According to the statistics, in 2009 the unfavorable
balance of trade of Armenia with China fell by 29% to $270.2 mln. This
was the result of 9.8 times ($17.9 mln) growth in export from Armenia
to China, while import from China to Armenia declined by 26,4%
($288 mln).
Germany holds the third place, its share being 7,3%, or $292 mln in
absolute terms. Over the crisis year 2009 the commodity turnover
between Armenia and Germany fell by 33,5%. To note, over the past
three years the share of commodity turnover with Germany was constantly
falling. If in 2007 the share of commodity turnover with Germany was
8,8% in Armenia’s foreign trade balance, with the commodity turnover
being $439.4 mln, in 2008 the share fell to 8%. By the end of 2009
the unfavorable balance of trade with Germany totalled $62.1 mln,
having annually decreased by 13,2%. Armenia exports iron, steel,
copper and various ores to Germany and imports from Germany mostly
electric appliances and products of machine building sphere.
As the economic situation was worsening in the world, and particularly,
in Ukraine, the commodity turnover of Armenia with Ukraine became
declining. According to the statistics, in 2009 the commodity turnover
between Armenia and Ukraine fell by 35,9% to $216 mln, or 5,4% of the
foreign trade turnover of the republic. In 2007 Armenia’s commodity
turnover with Ukraine increased by 61% (to $299 mln, the share being
6,7%), and in 2008 – by 11,7% (to $333 mln, the share being 6,1%). The
unfavorable balance of Armenia’s commodity turnover with Ukraine
totalled $190.5 mln by the end of 2009, having decreased by 35%.
The USA holds the fifth place, its share being 4,7%, or $188.2
mln, having annually decreased by 30,7%. The unfavorable balance of
Armenia’s commodity turnover with the USA grew 2.3 times in 2007, by
75% in 2008, and fell by 68% to $54 mln in 2009. Export from Armenia
to the USA grew by 27,3% in 2009, and import from the USA to Armenia
fell by 44,7%.
Belgium, which was in the top five trade partner countries of Armenia
for many years thanks to its lapidary production, has considerably
yielded its positions over the past few years. If in 2007 Belgium’s
share in Armenia’s foreign trade turnover was 4.9%, or $216.6 mln in
absolute terms, in 2008 it fell to 3.4% – $186.5 mln, and in 2009 – to
2.6%, or $105.3 mln. This is conditioned by the decline in productions
engaged in gem-cutting.
According to the statistics, the commodity turnover between Armenia
and Turkey in 2009 made up 4,5%, or $179 mln, having declined by
33,7%. In 2008 this index made up $269 mln (two-fold annual growth),
or 4,9% of the total commodity turnover of the republic, in 2007 –
$133.7 mln (36,7% growth), or 3% of the turnover.
Experts think that due to the forced post-crisis diversification of
Armenia’s economic structure, dynamics of further change in shares
of Armenia’s trade partners will be observed within the next few years.