ArmInfo.The decline in imports against the background of a more significant reduction in exports slowed sharply the growth of the negative balance of Armenia's foreign trade turnover in the first quarter of 2019 to 5.2% from 43.5% a year earlier.
Thus, the annual export rate unfolded in the first quarter of 2018 in the direction of the 8.6% decline from 34.4% growth a year earlier, which was also observed in imports - from 39% growth to 3.1% decline . Against this background, economic activity in the country increased in the first quarter of 2019 by 6.5% per annum, in March - by 14.8%, and in comparison with March 2018 - by 6.2%, against the growth of annual limitation, respectively, by 10.6 %, 16% and 10.9%.According to preliminary data of the RA Statistical Committee, Armenia's foreign trade turnover in the first quarter of 2019 amounted to 793.7 billion drams ($ 1,628.8 million), in particular, exports - 264.6 billion drams ($ 543 million), imports - 529.1 billion drams ($ 1,085.8 million), which formed a negative foreign trade balance at the level of 264.5 billion drams ($ 542.8 million).
Only in March 2019, foreign trade turnover increased by 8.4% due to the growth of imports by 8.8% and exports by 7.5%. As a result, the negative balance of foreign trade of Armenia increased in March 2019. by 10% (against 13.4% growth in March 2018), making 99.4 billion drams ($ 203.9 million).In annual terms (March 2019 by March 2018), the decline in foreign trade turnover by 0.4% was due to a 2.5% decline in exports, with only a tiny increase in imports by 0.8%, while in the same period a year earlier (March 2018) by March 2017) there was a growth in foreign trade turnover by 28% provoked by an increase in imports by 30.3% and exports by 23.7%. The negative balance of foreign trade of Armenia increased in March 2019 by March 2018 by 5%.The average settlement rate of dram in March 2019 was 487.48 others / $ 1, and in January-March - 487.23 others / $ 1.According to the forecasts of the World Bank, GDP growth in Armenia in 2019 will be 4.3% with an acceleration in 2020 to 4.6%. As for Armenia's foreign trade, the World Bank forecasts for 2019 an acceleration in export growth to 8.8% and a slowdown in import growth to 12.2%, and for 2020 - an increase in exports by 9.4% and imports by 11.4%. The Central Bank of Armenia forecasts for 2019 GDP growth in the range of 4.6-6.1%, growth of imports by 2-4% and exports by 4-6%.