Thursday, June 30 2011 17:14
GDP totals 615.9 bln drams for Q1 2011 in Armenia
ArmInfo. GDP in Armenia was up 1,2% for Q1 2011 in Armenia to 615.9 bln drams ($1.7 bln market value), the National Statistical Service of Armenia reported. In basic prices, GDP was up 1.4% for Q1 2011 versus the same period of 2010 and totaled 529.3 billion drams ($1.4 billion). GDP index deflator (in current and comparative prices) grew 10.3% for Q1 2011 versus the same period of 2010.
It is noteworthy that starting Jan 2011 the Government of Armenia no longer publishes the absolute monthly value of GDP and presenting it as economic activity index calculated on the basis of international standards. The absolute value of GDP is published in the quarterly and annual reports 3 months after completion of relevant periods.
For March 2011 all economic sectors experience growth. Construction sector proved the driver of economic activation. Thus, construction scaled doubled in March to 23.4 bln drams ($63.4 mln - down 5,2% versus Q1 ofch 2010). Agriculture proved on the second position with 21.5% growth for march to 24.5 bln drams ($66.6 mln - down 2% versus Q1 of 2010). Trade sector was on the third position with 16.6% growth to 143.4 bln drams ($389.2 mln - up 5% versus Q1 of 2010). Industrial sector took the 4th position with 12.7% to 76.9 bln drams ($208.7 mln - 5.9% growth versus Q1 of 2010). Services grew 9.6% to 65.2 bln drams ($176.9 mln - down 7.3% versus Q1 of 2010) - 5th position. Electricity generation for Mar 2011 grew 2.5% and 7.8% versus Q1 2010 to 603.8 million kWt/h.
Foreign turnover was up 14.1% in Mar versus Q1 2011 and up 18.1% in Mar versus Feb 2011 to $430.3 mln or 158.5 bln drams. In the structure of foreign turnover, export grew 21.8% to $92.2 mln or 34 bln drams and import grew 23.2% to $338.1 mln or 124.5 bln drams. Inflation in the consumer market of Armenia totaled 0.8% for March 2011 and 11.5% versus Q1 2010.
The exchange rate of the Armenian dram and US dollar averaged 368.42AMD/$1USD for Mar 2011 and 366.14AMD/$1USD for Jan-Mar 2011.
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