Armenia’s foreign trade deficit narrowed by $47.4 million to $228 million in 3rd Q 2016

07.12.2016 14:00
Armenia’s foreign trade deficit narrowed by $47.4 million to $228 million in 3rd Q 2016

YEREVAN, December 7. /ARKA/. Armenia’s foreign trade deficit has narrowed by $47.4 million over the third quarter of this year to $228 million as a result of the progressive increase of export indicator, the Central Bank of Armenia says in an inflation report included in its monetary policy performance report for the third quarter and its monetary policy project for the fourth quarter.

“In the period under review, the net inflow amount is similar to that of the same period a year before, which is due to stage-by-stage recovery of Russia’s economy and neutralization of adverse consequences of devaluation of the ruble,” the regulator says in its report.

Along with that, the deepening deficit of the current account in the 3rd Q 2016 had increased a great deal the negative balance of the current account investment income in the same period a year earlier.

Hence, a little current account negative payment balance amounting to $5 million was recorded in the 3rd Q 2016 against a $51.6-million surplus in the 3rd Q 2015.

According to the National Statistical Service, Armenia’s exports totaled $1 453.7 million in Jan-Oct 2016 after growing 19.8%, compared with the same period a year before, and imports totaled $2 613.3 million after shrinking 0.3%.

As a result, negative balance of the country’s foreign trade amounted to $1 159.6 million. ($1 – AMD 481.62). --0----


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