The trade turnover between Armenia and Russia in the first half of this year increased by 16% to $ 1.9 billion, said Deputy Prime Minister of Armenia Mher Grigoryan during the discussion entitled ‘Armenian-Russian Economic Cooperation: Perspective projects’.
For the first time in 2019, trade between Armenia and Russia exceeded $ 2 billion, Grigoryan reminded, adding that despite the global pandemic imposed restrictions on the movement of citizens and transportation of goods, in 2020 the Armenian Government managed to have only a slight decline in bilateral trade. As for the trade turnover in the current year, the growth is already obvious.
“In the first half of the year the trade turnover made $ 1.9 billion, growth of 16%. The growth of import was 9%, and export - 36%. The main part of the export was precious and non-precious metals, stones and products made of them, engineering products, agricultural products, light industry, chemical products and food.
There are obvious prospects for increasing export volumes, first of all, of non-raw materials. All this proves that it would be rational to intensify the industrial cooperation and development of joint corporations and industries, to implement joint innovative projects that will allow to be competitive with external partners.