YEREVAN, July 17. /ARKA/. The trade balance deficit in Armenia continued to worsen in May. This is stated in the World Bank's report "Armenia Monthly Economic Update – July 2026".
"Both exports and imports continued to decline in May, with export volumes decreasing faster than imports - by 11.5% compared to 1.6% (y/y) respectively. In particular, the rate of decline for both indicators slowed down compared to the previous month," the study says.
It is noted that this decline was due to the ongoing decrease in the re-export of precious and semi-precious stones, whose exports and imports fell by 61.7% and 82%, respectively.
"Excluding this re-export item, total exports increased by 18%, mainly due to mining products, which grew by up to 89%. Other items contributed either negatively or insignificantly positively to the overall growth of exports," the report states.
WB analysts also point out that exports to Russia decreased by 15% in May.
"For the period from January to May, exports decreased by 3.7%, while imports increased by 2.2%, leading to an expansion of the trade deficit, which amounted to 7% of the projected annual GDP," the report states.
According to Armstat, Armenia's foreign trade turnover in January-May 2026 compared to January-May 2025 decreased by 0.1% and amounted to $7.86 billion. During this period, exports amounted to $2.86 billion, while imports reached $4.99 billion.
