Friday, October 20 2017 14:18
Karine Melikyan

Sharp improvement in import dynamics with slowing export growth increased the negative balance of Armenia`s foreign trade by 27.2% per annum by October 1

Sharp improvement in import dynamics with slowing export growth  increased the negative balance of Armenia`s foreign trade by 27.2%  per annum by October 1

ArmInfo. The slowdown in export  growth with a sharp change in the dynamics of imports from a  recession to growth increased the negative balance of Armenia's  foreign trade for 9 months of this year. at 27.2% per annum, against  a decrease of 20.3% in the same period last year.

According to  preliminary data of the National Statistical Service of the Republic  of Armenia, export growth in January-September 2017 slowed to 19.1%  from 19.6% a year earlier, while imports sharply dropped from  negative 0.8% to positive 23.2%. As a result, Armenia's foreign trade  turnover in January- September 2017 showed an annual growth of 21.7%,  accelerating the pace from last year's 5.7%.

According to statistical data, Armenia's foreign trade turnover in  January-September 2017 amounted to 2106.1 billion AMD ($ 4,367.5  million), in particular, export - 745.9 billion AMD ($ 1,546.7  million), import - 1360.2 billion AMD ($ 2,220.8 million), which  formed a negative balance of external trade at the level of 614.3  billion AMD ($ 1274.1 million).

Only in September of 2017 foreign trade turnover increased by 10% due  to the growth of imports by 22% with a decrease in exports by 9.6%.  On an annual basis (September 2017, by September 2016), the growth of  foreign trade turnover by 23.1% was mainly caused by the growth of  imports (by 29.1%), rather than exports (an increase of 11.7%). Only  for September of this year. the negative balance of Armenia's foreign  trade increased by 71.6%, making 104 billion drams ($ 1274.1  million), against growth of 4.5% in September 2016.

According to statistical data, Armenia's economic activity in  January-September 2017 accelerated annual growth rates from 1.6% to  5.1%. Only in September 2017, economic activity growth slowed to  10.1% from 18.7% in August. In annual terms (September of this year  by September 2016), economic activity increased by 2.5%, against a  decrease of 2.4% in September 2016 by September 2015.

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