Russia Ranks Fourth in Armenia’s Imports

YEREVAN (Noyan Tapan)–In the third quarter of 1998–Russia’s share in Armenia’s exports and imports totaled 11 percent and 7 percent respectively ranking it fourth in imports and second in exports.

In the third quarter imports from Commonwealth of Independent States member-countries decreased by 25 percent and made up 20 percent of total imports.

The major reason for this decrease was the financial crisis in Russia–the Armenian Customs Office told Noyan Tapan.

At the same time–exports to other countries increased by 9 percent–and the foreign trade balance did not change as compared from last quarter.

In the third quarter of 1998–Armenia’s main business partners were:

Imports:

Great Britain-9%

Iran-9%

Belgium-8%

Russia-7%

Turkmen’stan-7%

United Arab Emirates-6%

Georgia-4%

Ukraine-2%

According to data the foreign trade turnover was 120.718 billion drams. Exports totaled 24.920 billion drams while imports were estimated at 95.798 billion drams.

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