Armenian exports to Russia in first quarter more than doubled to $67.7 million
Armenian exports to Russia in the first quarter of 2016 more than doubled to $67.7 million from the year earlier, according to the National Statistical Service (NSS). Russian imports to Armenia during the reporting period decreased by 26.7% to $179 million, Arka.am reports.
In 2015 Armenian exports to Russia fell by 18% due to economic downturn in Russia, in particular, due to sharp devaluation of the ruble by more than 50%.
Armenia's foreign trade with Russia in January-March 2016 decreased by 10.4% when compared to the same period of 2015 to about $246.6 million or 26.6% of Armenia's total foreign trade turnover.