Armenia Posts Trade Deficit

[Nahapetian Boris]

ARMENIA POSTS TRADE DEFICIT

RosBusinessConsulting
Jan 8 2008
Russia

RBC, 08.01.2008, Moscow 11:37:34.Armenia's trade deficit amounted to
just shy of $1.81bn, or 22.9 percent of GDP, from January to November
2007, ARMINFO reported. According to the republic's National Statistics
Service, Armenia's foreign trade grew 39.1 percent in the first 11
months of 2007 and 10.8 percent in November alone, to $3.933bn. Trade
with the EU rose 37.3 percent to $1.497bn, with exports amounting
to $516.6m and imports $981m. Trade with countries outside the CIS
reached $1.147bn, and $1.288bn with the CIS.

Armenia's key trade partners in terms of exports are Russia (17.3
percent of Armenia's overall exports), Germany (14.5 percent),
the Netherlands (13.4 percent), Belgium (8.8 percent), Georgia (7.5
percent), Switzerland (4.6 percent), and the US (4.3 percent). The
primary importers to Armenia are Russia (15.6 percent of total
imports), Ukraine (7.8 percent), Kazakhstan (7.3 percent), Germany
(6.8 percent), China (5.9 percent), and the US (4.6 percent).