NSS: Armenia’s foreign trade in first quarter slashed by 3.8% to $997.1 million
Armenia's foreign trade turnover in the first quarter of 2016 slashed by 3.8% from the same time span of 2015 to approximately $997.1 million, according to the latest numbers, released today by the National Statistical Service (NSS).
According to official data, exports amounted to about $375.9 million, an increase of 26.3% as opposed to January-March 2015, while imports fell by 15.9% to about $621.2 million. As a result, the negative trade balance decreased to about $245.3 million from $441.1 million for the first quarter of 2015. According to preliminary data, the trade deficit in FOB prices stood at approximately $149.7 million.
Armenia's foreign trade turnover with former Soviet republics making the Commonwealth of Independent States (CIS) declined by 13.2% to about $276. 7 million. Trade with Russia fell by 10.4% to $246.6 million. Trade with Ukraine dropped by 26.6% to $21 million and trade with Turkmenistan declined by 10.2% to about $4 million.
Trade with the EU countries in January-March 2016 amounted to approximately $249.8 million, a decline of 3.2% from the year before, and trade with other countries grew by 2.4% to $470.5 million.
According to statistics, the exports of mining industry products grew by 18.7% to $107.2 million, exports of finished food produces surged by 41% to about $77.7 million, exports of precious and semi-precious stones, precious metals and items skyrocketed by 77.1% to about $74.4 million.
At the same time, according to official statistics, imports of mining industry products dropped by 10.3% to $179.4 million, imports of machinery, equipment and mechanisms upped by 6.2% to $86.7 million and imports of finished food products upped by 4.6% to $64.1 million.($1 – 479.6 drams) -0-