Trade turnover between Armenia and Switzerland slashes 1.5 times in January-May, 2023

The Armenian-Swiss trade in the first 5 months of 2023 was down 55.1% from the same time span in 2022 at $62 million, the Armenian Ministry of Economy told ARKA news agency.

At the same time, the mutual turnover of goods by country of origin in this period amounted to $52.2mln, having decreased by 57.4% from last year’s $122.5mln.

According to official statistical data, in January-May 2023, exports from Armenia to Switzerland slashed by 69% from the first 5 months of 2022 to $35.4 million.

Imports from Switzerland to Armenia by country of origin doubled to $16.8 million. By country of export, imports during this period amounted to $26.6 million – 11.4% more than last year’s $23.8 million.

The situation last year was more favorable. According to the Armenian Statistical Committee, Armenia’s exports to Switzerland exceeded imports by about $154 million surging to $254.1 million. The bulk of exports were copper ore and concentrate – $161.2 million; ore and concentrates of precious metals – $82.3 million; cases and parts for wrist and pocket watches – $2.5 million, iron alloys ($1.6 million).

Imports to Armenia from Switzerland last year totaled $100.4 million. The bulk were medicines – $21.1 million, unprocessed aluminum – $16 million, turbojet engines, other gas turbines, parts – $12 million, automatic computing machines, blocks – $5.2 million, postage stamps, banknotes, securities – $5.0 million

Source Link