Armenia’s foreign trade up 8 percent in 11 months of 2016
Armenian exports were worth about $1.621.7 billion, having increased by 21.2% year-on-year, while imports increased by 2% to $2.954.6 billion. The resulting trade deficit amounted to $1.332.9 billion. Calculated in FOB prices the trade deficit stood at approximately $877.9 million.
Armenia's foreign trade turnover with CIS countries grew by 11.3% to about $1.385 billion, making 30.3% of the total foreign trade, while trade with Russia amounted to $1.224.5 billion, an increase of 14.8%. Trade with Ukraine slashed by 16.6% to $98.9 million, trade with Belarus upped by 14.5% to $34.5 million, trade with Kazakhstan soared by 57% to $6.3 million and that with Turkmenistan declined by 30.6% to about $11.2 million.
Armenia’s trade with EU countries in January-November 2016 amounted to about $1.093.2 billion, having grown year-on-year by 1.9% and making 23.9% of the total foreign trade, and trade with other countries amounted to $2.098.1 billion, an increase of 9.4% from the same time span of 2016 ( (45.8% of the total foreign trade).
According to statistics, exports of mineral products in the first 11 months of 2016 declined by 2% to $429.2 million, exports of finished food surged by almost 30% to about $374.2 million, and exports of precious and semi-precious stones, precious metals, and articles skyrocketed by 82% to about $312.2 million.
At the same time, according to official statistics, imports of mineral products declined by 8.1% to $524.3 million, imports of machinery, equipment and mechanisms upped by 14.1% to $413.3 million and imports of finished foods grew by 9.2% to $309 million. ($ 1 - 483.94 drams). -0-