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Vugar Bayramov: “France's exports to Armenia in 2019 amounted to only $ 60 million”

Vugar Bayramov: “France's exports to Armenia in 2019 amounted to only $ 60 million”

MP Vugar Bayramov told APA on November 26 that France is biased towards its economic partner Azerbaijan. He said this while commenting on the adoption of the draft resolution No. 145 On the Need for Recognition of the Nagorno-Karabakh Republic in the French Senate.

He stressed that if France was interested in the development of Armenia, it should have invested in this country and strengthened economic ties.

"France's exports to Armenia in 2019 amounted to only $ 60 million. As for investment, according to the UN, last year foreign investment in Armenia amounted to only $ 254 million, which mainly fell to four countries (Russia, Greece, Cyprus, and Germany)," Bayramov said.

Fakt Yoxla examined whether the MP's claim about goods and investments exported from France to Armenia was true.

The Statistical Committee of Armenia shares information on foreign trade in two ways - by exporting country of the relevant goods and by the origin of the commodity. In 2019, $ 65 million worth of goods were imported directly from France to Armenia.

The cost of goods produced in France and delivered to Armenia amounted to $ 84 million.

Statistical Committee of Armenia

Exports from France to Armenia (thousand US dollars)

Year

2016

2017

2018

2019

By exporting country

59,383.2

95,473.0

86,249.9

65,083.8

Share (%)

1.8

2.3

1.7

1.2

By the origin of the commodity

52,968.1

77,650.9

110,153.4

84,126.2

Share (%)

1.6

1.9

2.2

1.5

According to both classifications, the value of products exported from France to Armenia has decreased compared to 2018. In 2019, France had a 1.2-1.5% share in Armenia's imports.

According to the State Statistical Committee of Azerbaijan, in 2019, France exported goods worth $ 250.7 million to Azerbaijan. This accounted for 1.8% of Azerbaijan's imports.

State Statistical Committee of Azerbaijan

Exports from France to Azerbaijan (thousand US dollars)

Year

2016

2017

2018

2019

Import

150,198.8

154,722.0

183,050.1

250,727.3

Share (%)

1.8

1.8

1.6

1.8

According to the UN Trade Statistics (COMTRADE), in 2019, France exported $ 160.5 million worth of goods to Azerbaijan and $ 60.3 million to Armenia. Over the past four years, the value of goods imported by Azerbaijan from France was 1.6-3.6 times higher than in Armenia.

UN Trade Statistics

French exports to Azerbaijan and Armenia (thousand US dollars)

Year

2016

2017

2018

2019

Armenia

39,379

46,930

81,608

60,289

Azerbaijan

141,878

115,025

134,359

160,478

It would not be correct to compare the figures for Azerbaijan and Armenia on a nominal basis. Both countries have different populations and economies. France accounted for 1.6-1.8% of the products imported to Azerbaijan. In Armenia, the corresponding figure ranged from 1.2 to 2.3%.

According to the United Nations Conference on Trade and Development (UNCTAD), $ 254.5 million was invested in Armenia in 2019. According to the Foreign Economic Activity collection of the Statistical Committee of Armenia for 2017-2019, a negative balance was observed in investment relations. That is, more money was invested from Armenia to France than vice versa. The corresponding figure in Azerbaijan in 2019 amounted to $ 1,503.9 million.

According to the report of the Eurasian Development Bank, The main trends in the integration development of Armenia, in 2019, France was not among the top five countries investing in Armenia.

UN Conference on Trade and Development

The countries investing the most in Armenia in 2019 (million US dollars)

Russia

33.2 

Italy

27.1

Argentina

18.8 

Germany

18.6

Cyprus

6

According to the State Statistical Committee, France has invested $ 85.4 million in the Azerbaijani economy in 2019. According to this indicator, France ranks 11th among the countries investing in Azerbaijan.

Thus, according to UN Trade Statistics, the value of goods exported from France to Armenia in 2019 amounted to $ 60 million. According to the Statistical Committee of Armenia, this figure is $ 65 million. The discrepancy (7.7% difference) between these two figures, based on various sources, is accepted as up to 15% in terms of UN methodology.

According to the Eurasian Development Bank, Russia, Italy, Argentina, Germany, and Cyprus were the largest investors in Armenia in 2019. France is not in the top five countries investing in Armenia last year.

Fakt Yoxla concludes that Vugar Bayramov’s claim is True.

True
  • 21 December, 2020
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