Downward trend of Armenia foreign trade balance continues, as imports keep falling

ArmInfo. Foreign trade turnover of Armenia fell 3.8% in Q1 2016 versus the same period of 2015 to 487.7bln drams or $997.1mln. According to the preliminary data of the National Statistical Service, exports increased 26.3% to 183.8bln drams ($375.9mln), amid 15.9% decline of imports to 303.9bln drams ($621.2mln). Economic activity increased 5.5% in Q1 2016, amid 26.3% growth of exports and 15.9% decline of imports. In March 2016 versus March 2015, this indicator increased 6.6%.  For March alone, it grew 13.8%.

On Mar 2016 alone the foreign trade turnover increased 2.9%, in particular exports increased 9.6% amid 1.1% decline of imports. In Mar 2016 versus Mar 2016, this indicator fell 7%, as imports fell 21.5% amid 30.3% growth of exports.

A year ago, in Jan-Mar 2015, foreign trade turnover fell 28.5% year on year, as exports fell 23.1% and imports 30.5%. In Mar 2015 alone, foreign trade turnover increased 10.3%, as imports grew 6.8% and exports - 19.6%. For comparison, in Jan-Mar 2014, foreign trade turnover increased 0.6% year on year, as exports grew 1.8% and imports - 0.2%.  In Mar 2014 alone, foreign trade turnover increased 27.7%, as exports grew 7.2% and imports - 21.9%.

In Mar 2016, the average AMD/USD exchange rate was 486.33 AMD/1USD, in Jan-Mar 2016 - 488.67 AMD/1USD (versus 477.61 AMD/1USD in Mar 2015 and 477.26 AMD/1USD in Jan-Mar 2015).  In Mar 2014 it totaled 414.22 AMD/1USD and in Jan-Mar 2014 - 411.04 AMD/1USD.