Export dynamics improvement reduces unfavorable balance of Armenia`s trade

ArmInfo. In Jan-Oct 2016, the  unfavorable balance of Armenia's trade dropped by 22.3% due to 19.8%  growth in exports. Imports slackened decline to 0.3%. In Jan-Oct 2016  the foreign trade turnover of Armenia grew by 6.1% versus Jan-Oct  2015. 

According to the preliminary data of the Armenian National  Statistical Service, in Jan-Oct 2016 the foreign trade turnover of  Armenia amounted to 1952.3 bln AMD ($4067 mln), with exports totaling  697.8 bln AMD ($1453.7 mln), and imports - 1254.5 bln AMD ($2613.3  mln). The unfavorable balance of trade amounted to 556.7 bln AMD  ($1159.6 mln).

In October 2016, the foreign trade turnover grew by 3.2%, with  imports growing by 4.8% and exports remaining at the same level. As  compared to October 2015, foreign trade turnover rose by 8.8%, with  export rising by 21.6%, and imports - by 3.4%. In October 2016 alone,  the unfavorable balance of Armenia's trade grew by 10.3% to 74.9 bln  AMD ($157.7 mln). 

In Jan-Oct 2016, the economic activity growth in Armenia slackened to  0.4% from 3.5% in Jan-Oct 2015. In October alone economic activity  dropped by 18.7% (down 7.8% versus Oct 2015).

The average AMD/USD exchange rate made up 475.25 AMD/1USD in October  2016, and 480.45 AMD/1USD in Jan-Oct 2016, versus 472.55 AMD/$1 in  October 2015 and 477.19 AMD/$1 in Jan-Oct 2015.