Current Account in Armenia
Economic growth fell to 12.1% in Q1 from Q4’s 12.7% due to weaker growth in private spending and exports. On the flip side, growth in household consumption accelerated. In Q2, momentum likely remains upbeat: The economic activity index in April matched Q1’s growth figure as stronger trade and construction output offset a contraction in industrial production. In other news, Armenia and Azerbaijan have made significant recent progress on peace talks. Throughout May, authorities held meetings with U.S. Secretary of State Blinken, European Council President Michel and Russian President Putin. Following the talks, Armenian Prime Minister Pashinyan recognized Nagorno-Karabakh as part of Azerbaijan. These developments bode well for securing a lasting peace agreement and, consequently, for stability and trade in the country.
Armenia Current Account Chart
Armenia Current Account Data
|Current Account Balance (% of GDP)||-1.5||-7.4||-7.3||-3.8||-3.7|