World Bank noted a continued worsening of Armenia's trade deficit in May
17.07.2026,
19:11
Armenia's trade deficit continued to worsen in May, according to the World Bank's "Armenia Monthly Economic Update – July 2026."
YEREVAN, July 17. /ARKA/. Armenia's trade deficit continued to worsen in May, according to the World Bank's "Armenia Monthly Economic Update – July 2026."
"Both exports and imports continued to decline in May, with exports falling faster than imports—by 11.5% versus 1.6% (y/y), respectively. In particular, the rate of decline for both indicators slowed compared to the previous month," the study states.
It is noted that this decline was driven by a continued decline 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%, primarily due to mining products, which grew by 89%. The remaining items contributed either negatively or slightly positively to overall export growth," the report states.
WB analysts also note that exports to Russia fell by 15% in May.
"For the January-May period, exports decreased by 3.7%, while imports increased by 2.2%, leading to a widening trade deficit that 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. Exports amounted to $2.86 billion, while imports amounted to $4.99 billion.
"Both exports and imports continued to decline in May, with exports falling faster than imports—by 11.5% versus 1.6% (y/y), respectively. In particular, the rate of decline for both indicators slowed compared to the previous month," the study states.
It is noted that this decline was driven by a continued decline 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%, primarily due to mining products, which grew by 89%. The remaining items contributed either negatively or slightly positively to overall export growth," the report states.
WB analysts also note that exports to Russia fell by 15% in May.
"For the January-May period, exports decreased by 3.7%, while imports increased by 2.2%, leading to a widening trade deficit that 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. Exports amounted to $2.86 billion, while imports amounted to $4.99 billion.
