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Armenia’s economic activity has slightly weakened, with decrease recorded in industrial production volumes, an Armenian economist told a news conference on Friday.

Summing up the economic indicators for 2016, economist Vilen Khachatryan also reported a 10 percent drop in the total volume of the gross agricultural output, which, according to the specialist, is a significant indicator.

Mr. Khachatryan noted the construction volumes also continue to decline. “The figure now stands at 8 percent instead of the 8.7 percent recorded previously,” he added.

Reflecting on the foreign trade turnover, the speaker said Armenia saw a 124.4 percent growth in the sphere in January-August 2017, with the exports rising by 121.7 percent and imports – by 126 percent.

“We may set a new record in the exports sector, with an increase totalling to $200 million observed [in 2017], compared to the past year. This comes to show that if these rates maintain, the export record will be updated,” he said, adding Armenia’s major trade partners in exports sphere are Russia, Bulgaria and Switzerland.

Speaking about the imports to the country, Vilen Khachatryan noted that Russia continues to be Armenia’s biggest import market, following by Georgia and the United Arab Emirates.