20% export growth in 2016 reduced unfavorable balance of Armenia`s foreign trade by 18.5%

ArmInfo. 20% export growth in  Jan-Dec 2016 (versus 3.9% decline in Jan-Dec 2015) reduced the  unfavorable balance of Armenia's foreign trade by 18.5%. Import, in  turn, grew by 1.6% (versus 26.5% decline). As a result, in Jan-Dec  2016 the foreign trade turnover of Armenia rose by 7.4% versus 20.6%  drop in Jan-Dec 2015.     

According to the preliminary data of the National Statistical Service  of Armenia, in Jan-Dec 2016 the foreign trade turnover of Armenia  amounted to 2436.6 bln AMD ($5075.3 mln), with exports totaling 855.9  bln AMD ($1782.9 mln), and imports totaling 1580.7 bln AMD ($3292.4  mln). The unfavorable balance of foreign trade amounted to 724.8 bln  AMD ($1509 mln).

In December 2016, the foreign trade turnover dropped by 6.4% due to  8.5% export decline and 5.4% import decline. As compared to December  2015, the foreign trade turnover fell by 1.8% due to 5% reduction in  imports and 5.5% growth in exports. In December 2016, the unfavorable  balance of trade dropped by 1.1% to 81.9 bln AMD ($169.6 mln). 

In Jan-Dec 2016 the economic activity growth of Armenia slackened to  0.5% from 3.1% in Jan-Dec 2015.  In December 2016, the economic  activity grew by 17.9% following 5% decline in November. As compared  to December 2015, the economic activity dropped by 0.1%.

The average AMD/USD exchange rate made up 482.84 AMD/$1 in Dec 2016  and 480.49 AMD/$1 in Jan- Dec 2016, versus 482.93 AMD/$1 in Dec 2015  and 477.92 AMD/$1 in Jan-Dec 2015.