ArmInfo. The slowdown in export growth amid accelerating rise of imports increased the negative balance of foreign trade of Armenia for the first 9 months of this year by 42% per annum, against a growth of 27.2% a year earlier. According to preliminary data from the RA Statistics Committee, in January-September 2018 export growth slowed down to 11.6% from 19.1% a year earlier, while imports accelerated the rise to 28.6% from last year's 23.2%.
As a result, the foreign trade turnover of Armenia in January-September 2018 demonstrated a y-o-y growth of 22.4%, slightly accelerating the rate from last year's 21.7%.
According to statistics, the foreign trade turnover of Armenia in January-September 2018 amounted to 2582.7 billion drams ($ 5355.7 million), in particular, exports- 855.4 billion drams ($ 1774.1 million), imports - 1727.3 billion drams ($ 3581.6 million), which formed a negative foreign trade balance at the level of 871.9 billion drams ($ 1807.5 million).
In September 2018 alone, foreign trade turnover decreased by 10.1% due to a drop in imports by 9.3%, while exports fell by 11.6%. In y-o-y terms (September 2018 against September 2017), a 3.6% decline in foreign trade was caused by a 14.8% drop in exports, while imports grew by 2.7%. In September of this year alone the negative balance of foreign trade of Armenia decreased by 7.2% reaching 102.3 billion drams ($ 211.5 million) against a growth of 71.6% in September 2017. A year earlier, in September 2017, the foreign trade turnover increased by 10% due to the growth of imports by 22% with a drop in exports by 9.6%, and a y-o-y increase (September 2017 to September 2016), the increase in foreign trade turnover by 23.1% was triggered by the growth of imports (by 29.1%), rather than exports (an increase of 11.7%). According to statistical data, the economic activity of Armenia in January-September 2018 accelerated y-o- y growth rates from 5.1% to 6.5%. In September 2018 alone, growth in economic activity accelerated to 8.5% from 7.9% in August. In y-o-y terms (September 2018 against September 2017), economic activity increased only by 0.2%, against 2.5% growth in September 2017 by September 2016. The average exchange rate of dram in September 2018 was 483.82 AMD / $ 1, and in January-September 2018 - 482.21 AMD/ $ 1, against 478.24 AMD / $ 1 in September 2017 and 482.59 AMD/ $ 1 in January- September 2017