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March 28
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Commodity exporting countries are likely to record higher growth in 2017-19 than in previous five years, according to the latest reading of the IMF’s World Economic Outlook, presented Tuesday.

Armenia, whose exports rely heavily on metal concentrates, semi-finished metallurgical products (blister copper, Dore alloy), as well as aluminum foil, may go on taking up more revenues, as metal prices are expected to rise further on the back of a stronger demand by the Chinese industry.

The IMF still does not expect commodity exporters to fully recover after a contraction over 2011-16, a prolonged period of low non-oil commodity prices.

Now they may come into a reverse trend, amid expectations of infrastructure spending in China and prospects of fiscal easing in the US, as well as a general rebound of industrial demand in the rest of the world. 

Three-month copper futures at the LME traded around $9,530 in January 2011, reaching the bottom 4,700 – 4,800 in the third quarter of 2016. They picked up again in the end-year, initially fueled by the election of Donald Trump and expectations of his large infrastructure programs.

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