Tuesday, March 12 2013 15:23
Central Bank forecasts 7-9% growth in exports and almost 0% growth in imports for Q1 2013
ArmInfo. The Central Bank of Armenia has revised its export and import growth outlook for Q1 2013.
The press service of the CB reports that now the CB forecasts 7-9% growth in exports against 8-10% forecast before and almost 0% growth in imports against earlier forecast 3-5%.
The CB does not rule out certain export-related risks due to decline in global economy, changes in global metal prices and rise in industry in Armenia. The import-risks will depend on the prospects of the domestic economy and the behavior of the global prices.
The CB expects that in 2013 the current account of Armenia's payment balance will improve. The current account deficit will make up 8.5-9.5% of GDP against 10% forecast before.
According to the National Statistical Service of Armenia, in 2012 Armenia's foreign trade deficit made up $2.839bln (1% annual growth): foreign trade made up $5.695bln (3.9% growth), exports $1.428bln (7% growth), imports $4.267bln (2.9%).
According to the CIS Statistics Committee, in 2012 Armenia registered the third biggest growth in exports in the CIS behind Belarus and Tajikistan and the fourth biggest growth in imports behind Kyrgyzstan, Kazakhstan and Tajikistan.
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