Armenia's Foreign Trade Dynamics Returns to Growth – EDB
30.03.2026,
14:58
Armenia's foreign trade dynamics have returned to growth, according to the Eurasian Development Bank's (EDB) weekly macroeconomic review.
YEREVAN, March 30. /ARKA/. Armenia's foreign trade dynamics have returned to growth, according to the Eurasian Development Bank's (EDB) weekly macroeconomic review.
"Moreover, exports are growing faster (12.6% y/y) than imports (+7.3% y/y)," the study states.
According to the latest data from Armstat, Armenia's foreign trade turnover in January-February 2026 amounted to $3.06 billion, which is 9.3% higher than the same period in 2025. Exports during the reporting period amounted to $1.17 billion, while imports amounted to $1.89 billion. It should be noted that Armenia has been recording a decline in foreign trade turnover from January 2025 to January 2026 inclusive.
The EDB macroeconomic review also notes that the drivers of economic activity growth in Armenia (7.4% y/y in January–February 2026, up from 7.2% y/y in January) were the services (+7.2% y/y) and construction (+20.5% y/y). This acceleration was also driven by the expansion of industrial output (+17.2% y/y).
The bank's analysts maintained their forecast for Armenian economic growth of 5.3% in 2026.
Armenian Economic Figures and Forecasts
The state budget for 2026 projects economic growth of 5.4%. According to the Central Bank's monetary policy report for the first quarter of this year, GDP growth in Armenia is expected to be 7.1-4.7% by the end of 2026, 5.7-5.3% in 2027, and 4.9-5.2% in 2028, depending on scenario (A-B).
Armenian economic growth forecasts from international financial institutions for 2026: EDB – 5.3%; World Bank – 4.9%; IMF – 5.5%; EBRD – 5.5%; S&P Global Ratings – 5.3%; Fitch Ratings – above 5% (for 2026-2027).
"Moreover, exports are growing faster (12.6% y/y) than imports (+7.3% y/y)," the study states.
According to the latest data from Armstat, Armenia's foreign trade turnover in January-February 2026 amounted to $3.06 billion, which is 9.3% higher than the same period in 2025. Exports during the reporting period amounted to $1.17 billion, while imports amounted to $1.89 billion. It should be noted that Armenia has been recording a decline in foreign trade turnover from January 2025 to January 2026 inclusive.
The EDB macroeconomic review also notes that the drivers of economic activity growth in Armenia (7.4% y/y in January–February 2026, up from 7.2% y/y in January) were the services (+7.2% y/y) and construction (+20.5% y/y). This acceleration was also driven by the expansion of industrial output (+17.2% y/y).
The bank's analysts maintained their forecast for Armenian economic growth of 5.3% in 2026.
Armenian Economic Figures and Forecasts
The state budget for 2026 projects economic growth of 5.4%. According to the Central Bank's monetary policy report for the first quarter of this year, GDP growth in Armenia is expected to be 7.1-4.7% by the end of 2026, 5.7-5.3% in 2027, and 4.9-5.2% in 2028, depending on scenario (A-B).
Armenian economic growth forecasts from international financial institutions for 2026: EDB – 5.3%; World Bank – 4.9%; IMF – 5.5%; EBRD – 5.5%; S&P Global Ratings – 5.3%; Fitch Ratings – above 5% (for 2026-2027).
