Tuesday, September 20 2011 15:22

Significant import growth increased unfavorable balance of trade for Aug in Armenia


ArmInfo. Foreign trade turnover of Armenia was up 25.8% in Aug 2011 versus Jul 2011, 25.1% versus Aug 2010 and totaled 188.3 bln drams ($513.1 mln). Unfavorable balance of trade in Armenia for August grew 42.3% to $278 million. The growth for Jan-Aug was 50% and for summer - 13.3%.

The data of the National Statistical Service of Armenia say in the structure of foreign turnover, export grew 10.4% versus July 2011 and 30.6% versus Aug 2010 and totaled 43.1 bln drams ($117.3 mln). Import was up 31.2%versus July and 23.5% versus 2010 to $145.2 bln (395.8 mln AMD).

Import fell tangible in January (37.2%), in April (0,1%)m June (9.5%) and July (7.3%). In other months the growth was recorded in August and March (23.3%). Export fell tangible in January (38.1%) and July (8.1%) and grew in other months especially February (31.5%), in April (13.5%) and in August.

The exchange rate of the Armenian dram against US dollar in Aug 2011 averaged 367.07AMD/US$1.
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