Armenia's foreign trade slows down to $21.7 billion in 8 months

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YEREVAN, October 7. /ARKA/. Armenia's foreign trade in January-August 2024 compared to the same period in 2023 surged by 79.6% to over $21.7 billion, according to the website of the National Statistical Service.br/pp

Tradenbsp;withnbsp;Russianbsp;grewnbsp;tonbsp;aboutnbsp;$9nbsp;billion, an increase of 2.1 times compared to the first eight months of 2023./pp

Trade with EU countries was about $1.5 billion, down 19.2%. The top five trading partners were Germany ($314 million, down 29.9%), Italy ($286.3 million, up 0.3%), Belgium ($124.1 million, up 29.1%), the Netherlands ($113.2 million, down 54.5%) and France ($102.2 million, down 5.6%).nbsp;/pp

Trade with UAE grew to over $4.3 billion, growth of 6.8 times, trade with China upped to $1.9 billion, growth of 37.7%.nbsp;nbsp;/pp

Export/pp

Export from Armenia for the first eight months of 2024 compared to January-August 2023 increased by 2.1 times, amounting to about $9.7 billion./pp

Exports to Russia amounted to over $1.9 billion, a decline of 19.5% y/y. Exports to the EU countries decreased by 24.2% compared to January-August 2023 to $391.3 million.nbsp;/pp

Exports to the UAE grew to $4.3 billion, an increase of 7.3 times, exports to China increased to $840 million, an increase of 3 times.nbsp;/pp

The bulk of exports were precious and semi-precious stones, precious metals and products – $6.5 billion, a 7-fold increase compared to January-August 2023, machinery, equipment and mechanisms - $844.7 million. (a decline of 0.6%).nbsp;/pp nbsp;Import/pp

The volume of imports to Armenia for 8 months of 2024 amounted to over $12 billion, recording an increase of 59.3% compared to January-August 2023./pp

The volume of imports from Russia made $7.2 billion, an increase of 3.6 times./pp

Import from Germany made $277. 9 million./pp

Imports from China made $678.4 million, from the UAE - $304.8 million, a decline of 23%)./pp

The bulk of imports were precious and semi-precious stones, precious metals and products – about $6 billion (an increase of 7 times), machinery, equipment and mechanisms – about $1.7 billion, (an increase of 2.8%). -0-/p