The trade deficit in goods in Armenia decreased to $196.7 million in January-February (compared to $590 million in the same period last year). In February, the trade balance turned positive at $102.3 million. This information is reported in the Macroeconomic Review of the Eurasian Development Bank (EDB).
It is noted that the positive dynamics in foreign trade are associated with the leading growth of export volumes compared to imports. "In January-February, the export of goods increased by 2.6 times against the backdrop of production growth and external trade in gold products. Precious stones and metals played a major role in the structure of goods exports (growth by 8.9 times year-on-year in January-February), which, together with supplies of machinery and equipment, provided almost all of the positive dynamics of exports," the report says.
Imports in January-February increased by 73.2% year-on-year and were also mainly provided by imports of precious stones and metals for subsequent processing and export, as well as machinery and equipment, according to the review.
"In the structure of imports, the volumes of imports of transport vehicles decreased, but for other items, positive dynamics were maintained in January-February," note analysts of the Eurasian Development Bank.
