Monday, April 26 2021 17:30
Karine Melikyan

Negative foreign trade balance of Armenia decreased in the first  quarter of 2021 by 16.8% per annum

Negative foreign trade balance of Armenia decreased in the first  quarter of 2021 by 16.8% per annum

ArmInfo.The growth of exports against the background of the accelerating decline in imports reduced the negative balance of Armenia's foreign trade turnover in the first  quarter of 2021 by 16.8% per annum, against a decline of 13.4% a year  earlier.

Thus, the annual growth of exports moderately accelerated in  the first quarter of 2021 from 0.2% to 3.4%, while imports further  declined- from 6.2% to 8.7%. Against this background, economic  activity in the country decreased by 2% per annum in the first  quarter of 2021, increased by 9.6% in March, and increased by 3.8% in  comparison with March 2020, while a year earlier, in the first  quarter, growth was recorded by 4%, in March - a decline of 0.2% with  an annual decline of 4.9%.

According to preliminary data of the RA Statistical Committee,  Armenia's foreign trade turnover in the first quarter of 2021  amounted to 791.3 billion drams ($ 1.509 billion), in particular,  exports - 300.4 billion drams ($ 572.9 million), imports -490.9  billion drams ($ 936.4 million), which formed a negative foreign  trade balance at the level of 190.5 billion drams ($ 363.5 million).

In March 2021 alone, foreign trade turnover increased by 12.8% due to  an increase in exports by 11.6% and imports by 13.5%. As a result,  Armenia's negative foreign trade balance increased in March 2021 by  17.9% (against 6.5% growth in March 2020), amounting to 77.2 billion  drams ($ 146.3 million).  In y-o-y terms (March 2021 against March  2020), the growth of foreign trade turnover by 10.7% was due to an  increase in both exports by 21.8% and imports by 5%, while a year  earlier in the same period (March 2020 versus March 2019), there was  a decline in foreign trade turnover by 16%, provoked by a decrease in  exports by 17.4% and imports by 15.3%. The negative balance of  foreign trade of Armenia decreased in March 2021 to March 2020 by  10.6%, against a decline of 13.1% a year earlier.

The average calculated AMD exchange rate was 527.67 AMD / $ 1 in  March 2021, and 524.14 AMD / $ 1 in January-March, against 489.01 AMD  / $ 1 in March 2020 and 482.32 AMD / $ 1 in January-March 2020.

To note, the World Bank forecasts an increase in exports by 8.7% and  imports by 8.3% in Armenia's foreign trade for 2021. According to the  forecast of the Central Bank of Armenia, in 2021, imports will  decrease by 2-4% (against the actual decline in 2020 by 17.7%), and  exports will increase by 1-3% (against the actual decline in 2020 by  3.9%).

To recall, in 2020, in Armenia, as part of measures to prevent the  spread of the coronavirus pandemic, a state of emergency was  introduced from March 16, which lasted until September 12, but  security measures were retained after the emergency was lifted. In  this regard, a temporary ban was imposed on many types of economic  activities in the first month of the state of emergency, which was  partially lifted in the second half of April, and the ban was  completely lifted on May 18. From the same day, public transport  (including the metro) and many public catering and services began to  work, but the activities of international air, rail, bus  communication were still limited, however, from September 2,  restrictions on entry and exit to Armenia were lifted across air  borders. 

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