Tuesday, December 20 2016 18:29
Karine Melikyan

In Jan-Nov 2016, unfavorable balance of Armenia`s trade dropped by 15.6% due to sharp growth in exports to 21.2%

In Jan-Nov 2016, unfavorable balance of Armenia`s trade dropped by  15.6% due to sharp growth in exports to 21.2%

ArmInfo.In Jan-Nov 2016, the  unfavorable balance of Armenia's trade dropped by 15.6% due to sharp  growth in exports to 21.2% versus 4.7% drop a year ago. At the same  time dynamics of imports was positive totaling 2% versus negative  26.2% a year before. As a result in Jan-Nov 2016  the foreign trade  turnover of Armenia grew by 8% compared to Jan- Nov 2015 versus 20.6%  decline in the same period of 2015. 

According to the preliminary data of the Armenian National  Statistical Service, in Jan-Nov 2016 the foreign trade turnover of  Armenia amounted to 2195.9 bln AMD ($4576.3 mln), with exports  totaling 778.1 bln AMD ($1621.7 mln), and imports - 1417.8 bln AMD  ($2954.6 mln). The unfavorable balance of trade amounted to 639.7 bln  AMD ($1332 mln).

In November 2016 alone, the foreign trade turnover grew by 6.3%, with  imports growing by 7.2% and exports growing by 4.6%. As compared to  November 2015, foreign trade turnover rose by 27.2%, with export  rising by 34.8%, and imports - by 23.7%. In November 2016 alone, the  unfavorable balance of Armenia's trade grew by 10.5% to 82.8 bln AMD  ($173 mln). In November 2015 foreign trade turnover dropped by 6.9%  due to decline of exports and imports, both by 4.7%.

To note for comparison that in Jan-Nov 2014 foreign trade turnover of  Armenia grew by 2.3% y-o-y with exports growing by 2.7% and imports  by 2.1%. In November 2014 alone foreign trade turnover declined by  10.1% due to drop of imports by 11.8% and exports by 5%.

According to statistics, in Jan-Nov 2016, the economic activity  growth in Armenia slackened to 0.6% from 2.9% in Jan-Nov 2015. In  November 2016 alone economic activity dropped by 5% (versus 18.7%  decline in Oct). Compared to November 2015 economic activity grew by  2.3%. 

The average AMD/USD exchange rate made up 478.52 AMD/1USD in November  2016, and 480.27 AMD/1USD in Jan-Nov 2016, versus 480.15 AMD/$1 in  Nov 2015 and 477.46 AMD/$1 in Jan-Nov 2015. In Nov 2014 the exchange  rate made up 420.45 AMD/$1 and in Jan-Nov 2014-411.59 AMD/$1.

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