YEREVAN. - Armenia’s balance of payment (BOP) current account remains negative as for first quarter of 2011, says the report of Armenian National Statistic Service.

Moreover, compared to the first quarter of 2010, BOP current account negative balance increased by $15 million and equals to $432 million. This is caused by increased import dominating over the export.

In contrast to the current account, the capital and financial accounts display positive trends. In relation to previous year, positive balance of capital account increased by $20 million. The positive account is largely preconditioned by foreign investments.

Note that BOP current account deficiency in 2010 was $1.3 billion, while capital account surplus is 1.28 billion.