The World Bank predicts considerable slowdown in Armenia's foreign trade growth rates for 2018.

According to the report of the World Bank Review of Armenia, the export growth rates will slow down to 9.2% in 2018, instead of 13.2% in 2017 and imports from 14.3% to 10.3%.

Meanwhile, in 2019, on the contrary, the WB predicts a significant acceleration of export and import growth rates up to 9.7% and 10.6%. According to the forecast of the World Bank, the current account deficit in GDP in 2018-2019 will fall to 3.8-3.6%.

According to official statistics, in January-December 2017, Armenia's foreign trade turnover increased by 26.9% to 3100.4 billion drams ($ 6.425.6 million).

Export volumes increased by 25.2% to 1082.1 billion drams or $ 2242.9 million, and imports increased by 27.8% to 2018.3 billion drams or $ 4182.7 million. Moreover, the main part of both the foreign trade turnover and the export and import belong to Russia. Thus, in 2017 the foreign trade turnover between Armenia and Russia has grown by 26.1% to $ 1.7 billion. Export growth was 44.6% to $ 541.6 million, while imports rose 19.1% to $ 1.2 billion.

The foreign trade turnover between Armenia and the European Union increased by 28.4% in 2017 and 26.8% with other foreign countries. In particular, export volumes from Armenia to Europe in 2017 increased by 32.2% and imports - by 26%. Exports from Armenia increased by 14.5% and imports by 34.7%.

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