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Armenia's Foreign Trade Balance Leaves To Be Desired

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  • Armenia's Foreign Trade Balance Leaves To Be Desired

    ARMENIA'S FOREIGN TRADE BALANCE LEAVES TO BE DESIRED

    news.am
    Nov 1 2010
    Armenia

    Armenia is far behind the other CIS member-countries in terms of
    foreign trade balance. This January-July, Armenia's unfavorable
    foreign trade balance reached U.S. $1.7 billion. Belarus ranks 2nd
    (U.S. $4.2 billion), followed by Ukraine (U.S. $3.4 billion). However,
    the two countries' foreign trade turnover is several dozen tomes as
    much as that of Armenia.

    Russia, Kazakhstan and Azerbaijan registered favorable foreign trade
    balance. Specifically, Russia's favorable foreign trade balance
    totaled U.S. $105 billion - a record figure throughout the country's
    history. It is 62% more than in the corresponding period last year.

    The main reason is the rise in oil prices. Azerbaijan registered
    favorable foreign trade balance of U.S. $8.5 against U.S. $3.8 billion
    last year.




    From: A. Papazian
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