There Will Be iPhones Under Russian Christmas Trees and We Know Why…
👉 Armenian exports to Russia have increased by 153%, which could be an indication of parallel imports
👉 Rising Russian money transfers to Georgia and Kazakhstan indicate higher imports too
iPhone-Effect? Russian Imports from Armenia Almost Tripled
Armenia’s foreign trade with Russia has increased conspicuously. While increased imports from Russia may be at least partly due to rising energy prices, exports are unprecedentedly high. According to the Armstat database, exports increased by 153% in the first 10 months of 2022 (YoY). At the same time, the Armenian central bank expects GDP growth of „only“ 12.9% in 2022, and the industry is expected to grow by 5.5%. In other words, this could be an indication of parallel imports. This could also explain e.g. why products like the newest iPhones are still available in Moscow, even though Apple officially pulled out of Russia. Other products from „unfriendly countries“ such as automobiles, clothing, etc. are also still available, even though partly only in reduced quantities.
Russia Sends Record Money to Armenia, Georgia and Kazakhstan
Comparing money transfers between Russia and Armenia, Georgia and Kazakhstan, one could conclude that Russia also gets its parallel imports from these countries…