Wednesday, December 20 2017 15:52

Negative foreign trade balance of Armenia increased by 32.5%

ArmInfo. The prevalence of import growth over exports increased the negative balance of Armenia's foreign trade in Jan-Nov 2017 by 32.5% per annum to 847.6 billion AMD ($ 1756.6 million). A year earlier, in January-November 2016, by the same period of 2015, exports were outstripping the growth rate, which reduced the negative balance of Armenia's foreign trade by 15.6%.

According to preliminary data of the National Statistical Service of Armenia, the foreign trade turnover of Armenia in Jan-Nov 2017 amounted to 2790.4 billion AMD ($ 5784.2 million), in particular, exports - 971.4 billion AMD ($ 2013.8 million), import - 1819 billion ($ 3,770.4 million). On an annual basis, the volume of imports increased by 28%, with exports growing by 23.5%, which increased Armenia's foreign trade turnover by 26.4%. By way of comparison, in Jan-Nov 2016, to the same period of 2015, exports came out of the 4.7% decline by 21.2% growth, and imports - from a 26.2% decline by 2% growth, which led to a foreign trade turnover's 8% growth.

Only for November 2017 foreign trade turnover increased by 7.3% due to the growth of imports by 9.4% with an increase in exports by 3%. On an annual basis (November 2017 to November 2016), the growth of the foreign trade turnover by 31.1% was mainly caused by the growth of imports (by 34.8%), rather than exports (an increase of 23.6%). Only for November 2017, the negative balance of Armenia's foreign trade increased by 16.6% (against growth of 10.5% in November 2016), making 119.4 bln drams ($ 246.1 mln).

A year earlier, in November 2016, foreign trade turnover increased by 6.3% due to the growth of imports by 7.2% with an increase in exports of 4.6%, and in the annual section (November 2016 by November 2015), the growth of these indicators was 27.2%, 23.7% and 34.8%.

According to statistical data, Armenia's economic activity in Jan-Nov 2017 accelerated the annual growth rate to 7.3% from last year's 0.6%. Only for November, economic activity decreased by 11%, and in the annual cut (November 2017 to November 2016) increased by 9.2%.

The average calculated exchange rate of the dram was 485.36 AMD/USD1 in November 2017, and 482.67 AMD/USD1 in Jan-Nov, compared to 478.52 AMD/USD1 in November 2016 and 480.27 AMD/USD1 in Jan-Nov, 480.15 AMD/USD1 - in November 2015 and 477.46 AMD/USD1 - in Jan-Nov 2015.

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