Armenia-Russia turnover reaches $707 million

Russia’s trade representative in Armenia, Alexander Zaitsev, has presented today some details from reports by Russia’s Center for Statistics. According to the report, 2009’s eleven months’ Armenia-Russia turnover was $643 million, of this Russian export was $544 million, and import was $99 million.

In 2009 Armenia-Russia turnover decreased by 20% in comparison with 2008, reaching $707 million. Russian export registers 14% decline, while Armenian export registers 50% decline, mainly, in exporting brandy.

Alexander Zaitsev said Russian investments in Armenia in 2009 decreased by 35%, amounting nearly $300million. At the current moment the total investments registers $2,5 billion. Keeping in view that a new nuclear plant will be built in Armenia, it’s expected the investments will increase to $5 billion.

He also pointed that private transfers from Russia decreased to $900,000.

According to his forecasting, by 2011-2012 Armenia and Russia will reach the level of previous years’ turnover.