YEREVAN — Armenia’s foreign trade in the first five months of 2022 surged by 36.6% from the same time span of 2021 to $3.913 billion, according to the National Statistical Committee (NSC), Arka.am reports.

Armenia’s trade with CIS countries amounted to over $1.3 billion, an increase of 36% compared to the same period of time last year. The largest foreign trade partners were Russia ($1.226 billion, up 39.2% against five months of 2021), Belarus (about $41 million, up 76.3%) and Ukraine ($33.2 million, down 38%).

Armenia’s trade with EU countries amounted to about $772.5 million, a growth of 34.9%. The top five largest trade partners were Germany ($153 million, up 35.4%), Bulgaria ($119 million, up 39.9%), the Netherlands ($119 million, up 74.7%), Italy ($112 million, up 6.6%) and Belgium ($56.4 million, up 63.7%).

Other major trade partners were China ($543.8 million, Iran ($245.8 million, up 33.7%), USA ($128 million, 74.1% growth), Switzerland ($122.6 million, down 16.2%), Georgia ($92 million, up 48.9%), UAE ($90.2 million, up 89.5%), Iraq ($88.3 million, up 65%), and Japan ($31.7 million, up 98.4%).

Armenian exports in the first five months of 2022 rose by 27.5% from January-May 2021, to about $1.4 billion. Armenian exports to CIS countries amounted to $418 million, having increased by 31.8% compared to the same period last year. Russia ($387.2 million, 32.7% increase), Belarus ($13 million, 80.7% increase) and Turkmenistan ($4.8 million, 67 time growth) were the three leading importers of Armenian goods.

Exports to the EU countries in January-May this year rose by 56.6% compared to January-May 2021, amounting to $351 million. The first three countries in terms of exports were Bulgaria ($112.2 million, up 45.7%), the Netherlands ($99.4 million, up 87.6%) and Germany ($46.6 million, up 44.8%).

Exports to e China went down 17.8% to $142.5 million, exports to Switzerland dropped by 12.4% to $114.3 million, exports to Iraq surged by 67.3% to $88 million, exports to the UAE grew by 2.2 times to $74.4 million, and exports to Iran grew by 54.7% to $45.8 million.

The bulk of Armenian exports were mining industry goods ($441.5 million, an increase of 7% compared to the first five months of 2021), finished food products (about $253.1 million, an increase of 17.2%, non-precious metals and products ($190. 1 million, an increase of 54.4%).

Armenian imports in the first five months of 2022 grew by 42% to $2.6 billion. Imports from CIS countries totaled $964 million, an increase of 33.3% over the same period last year. The top three leading exporters to Armenia were Russia ($890.4 million, up 36.7%), Ukraine ($31.1 million, down 33%) and Belarus ($29.5 million, up 63.9%).

Imports from the EU states during the reporting period rose by 28.3%, amounting to $481.2 million. The first three countries by volume of exports to Armenia were Germany ($111.1 million, up 29%), Italy ($75.5 million, up 5.4%) and the Netherlands ($41.2 million, up 41%)

Imports from China grew by 66.5% to $257.4 million, from Iran grew by 27.7% to $199.9 million and imports from Georgia grew to $187 million.

The bulk of imports were mining industry goods- $449.9 million, an increase of 36.9%, machinery, equipment – $382.7 million, 29.7% rise, chemicals- – $225.8 million , growth by 37.1%, non-precious metals and items- $189.2 million, 51% rise.

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign Up for Our Newsletters

Get notified of the latest updates from MassisPost.

You May Also Like

Armenian Singers Call for Boycott of Eurovision Song Contest in Baku

YEREVAN — A group of well-known Armenian singers have released a statement…

Ex-Police Intel Chief Detained In Turkey Over Hrant Dink Murder

ANKARA — A former high-ranking Turkish police intelligence chief has been detained…

US Embassy Joins Armenians in Commemorating the Anniversary of Sumgait Massacres

YEREVAN — Today, we join with Armenians mourning and acknowledging all who…

Armenian Commercial Banks Lend 3.5 Trillion Drams in First Quarter 2020

Armenia’s banking sector was quick to respond to the global pandemic caused…