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FOREIGN TRADE
Major Exports commodities of Armenia are diamonds, mineral products and energy.
Exports partner of Armenia are Israel, Russia, Germany, Iran, US and Netherlands.
The importable commodities of the country are natural gases, petroleum products, tobacco products and foodstuffs. The imports partners of the country are Iran, Russia, Israel , Italy, Germany, France, US and UAE.
The following diagram shows the levels of exports and imports of the country over the years.
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The over all trade situation of the country is as follows:
| Trade |
2000 |
2003 |
2004 |
| Merchandise trade (% of GDP) |
61.5 |
69.6 |
65.7 |
| Foreign direct investment, net inflows (BoP, current US$) |
104.0 million |
121.0 million |
218.8 million |
| Long-term debt (DOD, current US$) |
696.5 million |
900.9 million |
984.5 million |
| Present value of debt (% of GNI) |
.. |
.. |
49.9 |
| Total debt service (% of exports of goods, services and income) |
8.2 |
8.9 |
8.0 |
| Official development assistance and official aid (current US$) |
215.9 million |
247.4 million |
254.1 million |
CONCLUSION
Armenia has joined the World Bank since the year 1992. It also accepted the membership of the International Development Association (IDA) a year later.
The IDA lending process has financed the country for infrastructure development in a faster pace.
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